Zscaler (NASDAQ:ZS) Upgraded at Stephens

Stephens upgraded shares of Zscaler (NASDAQ:ZS) to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Morgan Stanley assumed coverage on Zscaler in a report on Tuesday, March 18th. They issued an “equal weight” rating for the company. Wells Fargo & Company raised their target price on Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 6th. Canaccord Genuity Group increased their price objective on Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Loop Capital decreased their price target on Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a research note on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Zscaler from $200.00 to $225.00 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Zscaler has an average rating of “Moderate Buy” and an average price target of $232.35.

Zscaler Stock Performance

Shares of ZS opened at $207.04 on Monday. The firm has a market capitalization of $32.03 billion, a P/E ratio of -828.16 and a beta of 1.12. The stock has a 50 day moving average price of $202.77 and a two-hundred day moving average price of $194.42. Zscaler has a 52 week low of $153.45 and a 52 week high of $217.84.

Insider Activity

In other news, 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 value of $38,227,431.20. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the sale, the chief executive officer now owns 356,414 shares in the company, valued at approximately $70,979,848.10. This trade represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 199,234 shares of company stock worth $39,970,790 over the last 90 days. 18.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Zscaler by 297.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 183 shares of the company’s stock worth $36,000 after purchasing an additional 137 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Zscaler by 0.5% in the fourth quarter. California State Teachers Retirement System now owns 123,466 shares of the company’s stock valued at $22,275,000 after buying an additional 670 shares in the last quarter. 111 Capital purchased a new position in shares of Zscaler in the fourth quarter valued at $643,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Zscaler by 97.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,694 shares of the company’s stock worth $4,094,000 after acquiring an additional 11,179 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Zscaler during the 4th quarter valued at approximately $5,587,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

About Zscaler

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.