Zscaler (NASDAQ:ZS) Upgraded to Strong-Buy at Stephens

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

Other equities research analysts also recently issued reports about the company. UBS Group increased their price target on Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Scotiabank reaffirmed a “sector outperform” rating and set a $242.00 target price (up from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Canaccord Genuity Group upped their price objective on Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. Finally, Barclays reiterated an “overweight” rating on shares of Zscaler in a research note on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.35.

Zscaler Price Performance

ZS stock opened at $201.07 on Monday. The firm’s fifty day simple moving average is $202.49 and its 200-day simple moving average is $194.34. Zscaler has a 12 month low of $153.45 and a 12 month high of $217.84. The company has a market capitalization of $31.11 billion, a P/E ratio of -804.28 and a beta of 0.88.

Insider Transactions at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the transaction, the chief executive officer now directly owns 356,414 shares of the company’s stock, valued at $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Schlossman sold 2,878 shares of the 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 sale, the insider now directly owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. This trade represents a 2.61 % 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 in the last ninety days. Insiders own 18.10% of the company’s stock.

Institutional Trading of Zscaler

Institutional investors have recently made changes to their positions in the company. Global X Japan Co. Ltd. increased its stake in 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 acquired a new stake in shares of Zscaler during the 4th quarter worth about $27,000. Colonial Trust Co SC purchased a new stake in Zscaler in the 4th quarter valued at about $28,000. Stonebridge Financial Group LLC acquired a new position in Zscaler in the fourth quarter valued at about $29,000. Finally, Elequin Capital LP purchased a new position in Zscaler during the fourth quarter worth about $30,000. 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.