Zscaler (NASDAQ:ZS) Now Covered by Stephens

Stephens started coverage on shares of Zscaler (NASDAQ:ZS) in a report issued on Tuesday morning, MarketBeat reports. The brokerage issued an overweight rating and a $255.00 price target on the stock.

A number of other equities analysts have also commented on ZS. Citigroup reiterated a “buy” rating and issued a $240.00 price objective (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Canaccord Genuity Group lifted their price target on Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Jefferies Financial Group reduced their price objective on Zscaler from $245.00 to $240.00 and set a “buy” rating for the company in a research report on Monday. Wells Fargo & Company boosted their target price on shares of Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 6th. Finally, UBS Group increased their price target on shares of Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Zscaler presently has an average rating of “Moderate Buy” and a consensus price target of $232.35.

Zscaler Trading Up 1.3 %

NASDAQ:ZS opened at $201.07 on Tuesday. The firm has a market capitalization of $31.11 billion, a PE ratio of -804.28 and a beta of 0.88. Zscaler has a 1 year low of $153.45 and a 1 year high of $217.84. The firm’s fifty day simple moving average is $202.49 and its 200 day simple moving average is $194.34.

Insider Buying and Selling at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the transaction, the chief executive officer now directly owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the sale, the insider now directly owns 2,580,210 shares of the company’s stock, valued at approximately $517,822,344.90. This represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 199,234 shares of company stock worth $39,970,790. 18.10% of the stock is currently owned by insiders.

Institutional Trading of Zscaler

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. increased its holdings in Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Zscaler during the 4th quarter worth about $27,000. Colonial Trust Co SC bought a new stake in shares of Zscaler in the 4th quarter valued at about $28,000. Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler in the 4th quarter valued at approximately $29,000. Finally, Elequin Capital LP acquired a new stake in shares of Zscaler in the 4th quarter valued at approximately $30,000. 46.45% of the stock is owned by institutional investors.

Zscaler Company Profile

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.