Zscaler (NASDAQ:ZS – Free Report) had its price target lowered by Canaccord Genuity Group from $260.00 to $220.00 in a report issued on Tuesday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.
ZS has been the subject of a number of other reports. Truist Financial reissued a buy rating and issued a $260.00 target price on shares of Zscaler in a research report on Monday, April 1st. Rosenblatt Securities reissued a neutral rating and issued a $190.00 target price on shares of Zscaler in a research report on Tuesday, May 28th. Barclays raised their target price on Zscaler from $205.00 to $210.00 and gave the stock an overweight rating in a research report on Friday, May 31st. Oppenheimer reissued an outperform rating and issued a $260.00 target price (down from $290.00) on shares of Zscaler in a research report on Friday, May 31st. Finally, Macquarie reaffirmed an outperform rating and issued a $245.00 price target on shares of Zscaler in a report on Tuesday, March 19th. Seven research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $224.00.
View Our Latest Analysis on Zscaler
Zscaler Stock Performance
Insider Buying and Selling at Zscaler
In other Zscaler news, insider Syam Nair sold 2,893 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $558,782.95. Following the sale, the insider now owns 137,294 shares in the company, valued at $26,518,336.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Syam Nair sold 2,893 shares of Zscaler stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $558,782.95. Following the transaction, the insider now owns 137,294 shares in the company, valued at $26,518,336.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Remo Canessa sold 7,707 shares of Zscaler stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $1,488,607.05. Following the completion of the transaction, the chief financial officer now owns 255,943 shares in the company, valued at approximately $49,435,390.45. The disclosure for this sale can be found here. Insiders have sold 12,715 shares of company stock worth $2,455,902 over the last 90 days. Corporate insiders own 19.20% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of ZS. Vanguard Group Inc. increased its holdings in Zscaler by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock valued at $1,726,307,000 after purchasing an additional 118,002 shares during the period. 1832 Asset Management L.P. purchased a new position in Zscaler during the 4th quarter valued at about $217,683,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Zscaler by 19.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock valued at $119,294,000 after purchasing an additional 102,616 shares during the period. Northern Trust Corp increased its holdings in Zscaler by 5.6% during the 3rd quarter. Northern Trust Corp now owns 556,446 shares of the company’s stock valued at $86,577,000 after purchasing an additional 29,405 shares during the period. Finally, Norges Bank purchased a new position in Zscaler during the 4th quarter valued at about $117,599,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.
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.
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