Zscaler’s chief legal officer sells stock worth $1.34 million

Robert Schlossman, the Chief Legal Officer at Zscaler, Inc. (NASDAQ:ZS), recently sold shares valued at approximately $1.34 million, according to a Form 4 filing with the Securities and Exchange Commission. The transactions, executed on March 18 and 19, involved multiple sales of common stock. The sales come as Zscaler, currently valued at $31.5 billion, trades near its 52-week high of $217.84, having gained over 7.5% in the past week. According to InvestingPro analysis, the company shows impressive gross profit margins of nearly 78%.

On March 18, Schlossman sold 2,878 shares at a weighted average price of $199.1473 per share, totaling $573,145. This transaction was conducted to cover tax withholding obligations related to the vesting of restricted stock units.

Further sales on March 19 involved 3,767 shares sold at prices ranging from $202.1733 to $205.5167 per share, amounting to $768,412. These sales were part of a pre-established trading plan under Rule 10b5-1, adopted in June 2024.

Following these transactions, Schlossman holds 103,820 shares directly. An additional 66 shares are held indirectly by his spouse.

In other recent news, Zscaler has reported strong financial performance in its second quarter of fiscal year 2025, with a 23% increase in revenue and a 22% free cash flow margin. The company also saw a 23% growth in Annual Recurring Revenue (ARR), highlighting its successful strategic investments and robust demand for its services. Analysts have responded positively, with TD Cowen maintaining a Buy rating and a $270 price target, citing Zscaler’s strong growth outlook and strategic market position. UBS also raised its price target to $260, pointing to Zscaler’s strong billings performance and potential within the US Federal market. Stifel reiterated its Buy rating with a $235 target, emphasizing the company’s effective go-to-market strategies and expanding zero trust security portfolio. Cantor Fitzgerald increased its price target to $220 while maintaining a Neutral rating, noting Zscaler’s ability to exceed consensus estimates on key financial metrics. The firm’s updated guidance for fiscal year 2025 projects higher revenue, billings, and free cash flow, demonstrating confidence in its execution strategy and growth potential.

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