Zscaler (NASDAQ:ZS) Now Covered by Analysts at Stephens

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

Several other analysts have also recently commented on the company. Loop Capital lowered their target price on Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research report on Tuesday, December 3rd. Royal Bank of Canada increased their price target on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Bank of America upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $240.00 in a research note on Friday, March 7th. Wells Fargo & Company increased their target price on shares of Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a research report on Thursday, March 6th. Finally, Morgan Stanley assumed coverage on shares of Zscaler in a research note on Tuesday, March 18th. They set an “equal weight” rating on the stock. Nine analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, Zscaler has a consensus rating of “Moderate Buy” and an average target price of $232.35.

Zscaler Trading Up 1.3 %

NASDAQ ZS opened at $201.07 on Tuesday. The company has a 50-day moving average price of $202.49 and a two-hundred day moving average price of $194.34. Zscaler has a 52 week low of $153.45 and a 52 week high of $217.84. The stock has a market cap of $31.11 billion, a price-to-earnings ratio of -804.28 and a beta of 0.88.

Insider Buying and Selling at Zscaler

In related 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 transaction of $38,227,431.20. Following the completion of the sale, the insider now directly owns 2,580,210 shares in the company, 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 that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the transaction, the chief executive officer now owns 356,414 shares in the company, valued at approximately $70,979,848.10. This 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 valued at $39,970,790 in the last three months. 18.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Cerity Partners LLC grew its position in Zscaler by 73.5% in the third quarter. Cerity Partners LLC now owns 10,562 shares of the company’s stock worth $1,806,000 after acquiring an additional 4,476 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Zscaler by 9.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,969 shares of the company’s stock valued at $1,191,000 after purchasing an additional 581 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in Zscaler by 27.0% in the third quarter. D.A. Davidson & CO. now owns 1,936 shares of the company’s stock worth $331,000 after purchasing an additional 411 shares in the last quarter. Townsquare Capital LLC increased its position in Zscaler by 236.2% during the third quarter. Townsquare Capital LLC now owns 4,983 shares of the company’s stock worth $852,000 after buying an additional 3,501 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in Zscaler by 11.2% during the third quarter. Captrust Financial Advisors now owns 5,024 shares of the company’s stock valued at $859,000 after buying an additional 504 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

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.