Zscaler (NASDAQ:ZS) Upgraded at Stephens

Zscaler (NASDAQ:ZS) was upgraded by equities research analysts at Stephens to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Barclays restated an “overweight” rating on shares of Zscaler in a research report on Wednesday, March 5th. BMO Capital Markets upped their price objective on Zscaler from $222.00 to $233.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Robert W. Baird lifted their target price on Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Loop Capital lowered their price target on Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a research report on Tuesday, December 3rd. Finally, Canaccord Genuity Group boosted their price objective on shares of Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $232.35.

Zscaler Stock Performance

ZS stock opened at $201.07 on Monday. The firm has a fifty day moving average price of $202.49 and a 200 day moving average price of $194.34. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $217.84. The firm has a market cap of $31.11 billion, a PE ratio of -804.28 and a beta of 0.88.

Insider Transactions at Zscaler

In related news, insider Robert Schlossman sold 2,878 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the transaction, the insider now owns 107,587 shares in the company, valued at $21,425,951.05. The trade was a 2.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 owns 2,580,210 shares of the company’s stock, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 199,234 shares of company stock valued at $39,970,790. Corporate insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

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

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.