Zscaler (NASDAQ:ZS) Coverage Initiated at Stephens

Stock analysts at Stephens assumed coverage on shares of Zscaler (NASDAQ:ZS) in a research report issued on Tuesday. The firm set an “overweight” rating and a $255.00 price target on the stock. Stephens’ price objective indicates a potential upside of 28.81% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Scotiabank restated a “sector outperform” rating and issued a $242.00 price objective (up from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Morgan Stanley assumed coverage on Zscaler in a research report on Tuesday, March 18th. They issued an “equal weight” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 price objective on shares of Zscaler in a report on Wednesday, March 5th. Oppenheimer raised their target price on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Finally, Mizuho boosted their target price on Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $233.22.

Zscaler Stock Performance

NASDAQ:ZS traded down $0.46 on Tuesday, hitting $197.96. 110,066 shares of the stock were exchanged, compared to its average volume of 1,896,641. The stock has a market capitalization of $30.63 billion, a price-to-earnings ratio of -788.38 and a beta of 0.88. Zscaler has a 52 week low of $153.45 and a 52 week high of $217.84. The company’s 50-day moving average price is $202.30 and its 200 day moving average price is $194.12.

Insider Buying and Selling at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 199,234 shares of company stock worth $39,970,790 over the last 90 days. Company insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its stake in Zscaler by 120.1% in the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock valued at $173,921,000 after purchasing an additional 525,956 shares in the last quarter. Natixis bought a new position in Zscaler in the fourth quarter valued at approximately $87,775,000. Greenvale Capital LLP acquired a new position in Zscaler during the fourth quarter valued at approximately $72,164,000. Pictet Asset Management Holding SA lifted its stake in Zscaler by 25.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock worth $291,935,000 after purchasing an additional 332,307 shares during the last quarter. Finally, DnB Asset Management AS boosted its holdings in shares of Zscaler by 66.8% in the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock valued at $120,403,000 after purchasing an additional 267,162 shares in the last quarter. Institutional investors and hedge funds 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.