Zscaler (NASDAQ:ZS) Stock Rating Upgraded by Roth Capital

Roth Capital upgraded shares of Zscaler (NASDAQ:ZS) to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Several other equities analysts also recently issued reports on ZS. Scotiabank restated a “sector outperform” rating and issued a $242.00 price objective (up previously from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Stephens assumed coverage on Zscaler in a research note on Tuesday, April 1st. They set an “overweight” rating and a $255.00 price target on the stock. Barclays reiterated an “overweight” rating on shares of Zscaler in a research note on Wednesday, March 5th. Robert W. Baird raised their target price on shares of Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Finally, Bank of America upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and upped their price target for the company from $215.00 to $240.00 in a research report on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $234.16.

Zscaler Trading Up 4.8 %

ZS stock opened at $210.14 on Tuesday. The stock has a market cap of $32.51 billion, a P/E ratio of -840.56 and a beta of 1.12. Zscaler has a twelve month low of $153.45 and a twelve month high of $217.84. The company’s 50 day moving average is $199.33 and its two-hundred day moving average is $197.03.

Insider Buying and Selling

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction on 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 transaction, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the transaction, the chief executive officer now owns 356,414 shares in the company, valued at $70,979,848.10. The trade was a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 209,234 shares of company stock worth $42,030,790 in the last ninety days. Insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. ORG Partners LLC raised its holdings in shares of Zscaler by 284.8% during the 1st quarter. ORG Partners LLC now owns 127 shares of the company’s stock valued at $26,000 after buying an additional 94 shares during the period. Global X Japan Co. Ltd. grew its holdings in Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Zscaler during the 4th quarter worth $27,000. CVA Family Office LLC boosted its position in Zscaler by 120.3% in the 1st quarter. CVA Family Office LLC now owns 152 shares of the company’s stock valued at $30,000 after buying an additional 83 shares during the last quarter. Finally, Colonial Trust Co SC purchased a new stake in shares of Zscaler during the fourth quarter worth about $28,000. 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.