Investment analysts at Morgan Stanley started coverage on shares of Zscaler (NASDAQ:ZS - Get Free Report) in a research note issued on Tuesday, Marketbeat reports. The brokerage set an "equal weight" rating on the stock.
A number of other research analysts have also commented on ZS. Loop Capital decreased their price objective on Zscaler from $200.00 to $195.00 and set a "hold" rating on the stock in a report on Tuesday, December 3rd. Barclays reaffirmed an "overweight" rating on shares of Zscaler in a report on Wednesday, March 5th. Robert W. Baird upped their price objective on Zscaler from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft increased their target price on Zscaler from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Finally, Canaccord Genuity Group increased their target price on Zscaler from $220.00 to $230.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $232.68.
Check Out Our Latest Analysis on Zscaler
Zscaler Price Performance
NASDAQ ZS traded up $1.65 on Tuesday, reaching $205.20. The stock had a trading volume of 1,826,357 shares, compared to its average volume of 1,862,956. The firm has a fifty day moving average of $199.74 and a two-hundred day moving average of $191.83. Zscaler has a 1-year low of $153.45 and a 1-year high of $217.84. The company has a market cap of $31.75 billion, a P/E ratio of -820.80 and a beta of 0.88.
Insider Buying and Selling at Zscaler
In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the sale, the chief executive officer now owns 356,414 shares of the company's stock, valued at approximately $70,979,848.10. This represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total value 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. Over the last three months, insiders sold 199,234 shares of company stock worth $39,970,790. 18.10% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Zscaler
Several large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System grew its stake in Zscaler by 0.5% during the fourth quarter. California State Teachers Retirement System now owns 123,466 shares of the company's stock worth $22,275,000 after purchasing an additional 670 shares during the period. 111 Capital acquired a new stake in Zscaler during the fourth quarter worth approximately $643,000. Wealth Enhancement Advisory Services LLC grew its stake in Zscaler by 97.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,694 shares of the company's stock worth $4,094,000 after purchasing an additional 11,179 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Zscaler in the fourth quarter valued at approximately $5,587,000. Finally, Centaurus Financial Inc. grew its stake in Zscaler by 13.1% in the fourth quarter. Centaurus Financial Inc. now owns 4,641 shares of the company's stock valued at $837,000 after acquiring an additional 538 shares during the period. Institutional investors and hedge funds own 46.45% of the company's stock.
About Zscaler
(
Get Free Report)
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.
See Also
Before you consider Zscaler, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Zscaler wasn't on the list.
While Zscaler currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
