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SAN JOSE, CA—Robert Schlossman, Chief Legal Officer of Zscaler, Inc. (NASDAQ:ZS), recently executed a significant stock transaction, selling 4,618 shares of the company’s common stock. The shares were sold at a price of $300 each, amounting to a total transaction value of approximately $1.39 million. Following this sale, Schlossman retains direct ownership of 95,612 shares in the company. The transaction comes as Zscaler’s stock trades near its 52-week high of $303.73, having delivered an impressive 68% return over the past year.
This transaction was conducted under a Rule 10b5-1 trading plan, which was adopted on June 29, 2024, allowing pre-scheduled trades to be executed. Additionally, Schlossman holds 66 shares indirectly through his spouse. The company, currently valued at $47.2 billion, maintains strong financial health according to InvestingPro metrics.
Investors often monitor such transactions as they can provide insights into the executive’s view of the company’s future prospects. With 35 analysts recently revising their earnings estimates upward and a consensus recommendation of 1.79 (Strong Buy), market sentiment remains positive despite the stock trading above its Fair Value. Discover more insights and 15+ additional ProTips with InvestingPro.
In other recent news, several analysts have raised their price targets for Zscaler, reflecting confidence in the company’s strategic direction and growth prospects. Truist Securities increased their target to $350, maintaining a Buy rating, following Zscaler’s investor briefing, which highlighted advancements in its Zero Trust architecture and increased customer acquisitions. Scotiabank (TSX:BNS) also raised its target to $360, noting Zscaler’s leadership in the Secure Access Service Edge market and cautioning about potential risks in future guidance. Deutsche Bank (ETR:DBKGn) set a new target of $350, based on positive feedback from a survey of Zscaler customers, who expressed strong demand for the company’s zero trust platform. Jefferies echoed this sentiment, raising its target to $350 and emphasizing Zscaler’s strong position in the market and the potential for continued growth. RBC Capital raised its target to $315, citing Zscaler’s strategic advancements and new solutions aimed at extending Zero Trust. These developments underscore the analysts’ collective confidence in Zscaler’s ability to capitalize on the increasing demand for its security solutions.
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