Robert Schlossman, the Chief Legal Officer of Zscaler, Inc. (NASDAQ:ZS), a cybersecurity company with a market capitalization of $28 billion and impressive revenue growth of 31% year-over-year, has sold a significant amount of the company's stock, according to a recent SEC filing. The transactions, which took place on December 17 and 18, involved the sale of common stock totaling approximately $1.23 million.
On December 17, Schlossman sold 3,258 shares at an average price of $200.32 per share, amounting to roughly $652,641. The following day, he executed additional sales totaling 2,735 shares at prices ranging from $186.08 to $199.72, generating approximately $581,549. The stock has since experienced an 11% decline over the past week, according to InvestingPro data, which shows the company maintaining strong gross profit margins of 78%.
Post-transaction, Schlossman holds 110,465 shares directly. These sales were conducted under a pre-arranged trading plan established in June 2024. InvestingPro subscribers can access 12 additional key insights about Zscaler's financial health and valuation metrics through the comprehensive Pro Research Report.
In other recent news, Zscaler, a leader in cloud security, has seen several significant developments. Bernstein SocGen Group maintained a positive stance on Zscaler shares, reiterating an Outperform rating and a $238.00 price target, despite a decrease in billings growth last quarter. The firm made minor adjustments to their revenue model for Zscaler, expecting the company to achieve higher operating margins through improved sales and marketing leverage.
In a strategic move to enhance its security and operational efficiency, Nokia (HE:NOKIA) has deployed Zscaler's Zero Trust Exchange platform. This deployment is expected to streamline Nokia's operations, diminish latency, and enhance security. Zscaler's Secure Access Service Edge (SASE) solution is a crucial component of this deployment.
Following the 2025 CIO Survey, Piper Sandler analysts anticipate a rise in IT spending, benefiting tech firms such as Zscaler. BMO Capital Markets updated its outlook on Zscaler, raising its price target on the company's stock to $222 from the previous $197, while reaffirming its Outperform rating. This adjustment follows Zscaler's recent earnings report, which revealed a modest surpassing of billings estimates for the October quarter.
RBC Capital Markets reiterated an Outperform rating on Zscaler's stock, with a price target set at $230.00, following the company's impressive first quarter performance. Despite the upcoming retirement of their CFO, Mr. Canessa, RBC Capital has indicated that this change in management is not a cause for concern but rather a natural transition. These are the recent developments in Zscaler.
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