Zscaler (ZS) chief legal officer Schlossman sells shares worth $1m+

Zscaler Inc . (NASDAQ:ZS) Chief Legal Officer Robert Schlossman sold a total of 6,764 shares of common stock in multiple transactions, netting over $1 million. The sales occurred on June 17 and 18, 2025, as the cybersecurity company’s stock trades near its 52-week high of $309.19, having delivered an impressive 71% return over the past year. According to InvestingPro analysis, the company currently appears overvalued relative to its Fair Value.

On June 17, Schlossman sold 3,590 shares at a price of $303.7021, totaling approximately $1,090,290.

The following day, June 18, Schlossman executed several sales under a pre-arranged Rule 10b5-1 trading plan adopted on June 29, 2024. These transactions included:

1,660 shares sold at weighted average prices ranging from $304.11 to $305.10,

200 shares sold at weighted average prices ranging from $302.98 to $303.93,

1,014 shares sold at weighted average prices ranging from $305.20 to $306.10, and

300 shares sold at weighted average prices ranging from $306.46 to $307.31.

These sales on June 18 totaled $968,299.

Following these transactions, Schlossman directly owns 88,970 shares of Zscaler Inc. common stock. Additionally, 66 shares are held indirectly through a spouse.

It should be noted that the initial sale of 3,590 shares was to cover tax withholding obligations related to the vesting of restricted stock units, as mandated by Zscaler’s equity incentive plans.

In other recent news, Zscaler reported a 23% revenue growth and an 18% free cash flow margin in its fiscal third quarter of 2025, achieving a $2 billion-plus annual recurring revenue scale. Wells Fargo (NYSE:WFC) upgraded Zscaler’s stock rating from Equal Weight to Overweight, raising its price target to $385.00 due to confidence in the company’s growth outlook. Similarly, JPMorgan increased its price target for Zscaler to $348.00, maintaining an Overweight rating, and highlighted the company’s strategic shift towards a ’Firewall Free’ architecture. Cantor Fitzgerald also raised its price target to $340.00, citing the growing adoption of Zscaler’s cloud security and data protection solutions. JMP Securities reiterated its Market Outperform rating with a $310.00 price target, emphasizing Zscaler’s strong market execution and financial metrics. Citizens JMP maintained its Market Outperform rating after attending Zscaler’s Zenith Live 2025 event, underscoring the company’s strategic focus on cloud security. These recent developments showcase Zscaler’s robust market position and continued growth trajectory in the cybersecurity sector.

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