Zscaler (NASDAQ:ZS) Stock Rating Upgraded by Stephens

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

Several other equities research analysts also recently commented on ZS. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their price objective on Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. 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. Barclays restated an “overweight” rating on shares of Zscaler in a report on Wednesday, March 5th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. Nine 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $232.35.

Zscaler Price Performance

ZS stock opened at $201.07 on Monday. Zscaler has a 1 year low of $153.45 and a 1 year 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. The company has a 50 day simple moving average of $202.49 and a 200 day simple moving average of $194.34.

Insider Buying and Selling at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares in the company, valued at $517,822,344.90. This represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the sale, the chief executive officer now directly owns 356,414 shares in the company, valued at $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 ninety days. 18.10% of the stock is currently owned by company insiders.

Institutional Trading of Zscaler

A number of large investors have recently modified their holdings of the business. Corebridge Financial Inc. grew its position in Zscaler by 0.5% during the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock valued at $2,110,000 after acquiring an additional 54 shares during the last quarter. Erste Asset Management GmbH lifted its stake in shares of Zscaler by 0.6% in the 4th quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock valued at $1,805,000 after acquiring an additional 56 shares during the last quarter. KRS Capital Management LLC boosted its holdings in Zscaler by 1.9% during the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock valued at $588,000 after acquiring an additional 60 shares during the period. Ironwood Investment Management LLC grew its position in Zscaler by 1.0% during the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock worth $1,127,000 after acquiring an additional 64 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Zscaler by 16.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock worth $88,000 after purchasing an additional 69 shares during the period. 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.