Brokerages Set Zscaler, Inc. (NASDAQ:ZS) PT at $234.16

Shares of Zscaler, Inc. (NASDAQ:ZS) have been given a consensus rating of “Moderate Buy” by the thirty-four brokerages that are currently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $236.66.

A number of equities analysts have recently issued reports on ZS shares. Citigroup reiterated a “buy” rating and set a $240.00 price objective (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Barclays reaffirmed an “overweight” rating on shares of Zscaler in a research report on Wednesday, March 5th. BTIG Research set a $252.00 price target on Zscaler and gave the stock a “buy” rating in a research report on Thursday, March 6th. Jefferies Financial Group dropped their price objective on Zscaler from $245.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, Scotiabank reiterated a “sector outperform” rating and issued a $242.00 target price (up from $225.00) on shares of Zscaler in a report on Wednesday, March 5th.

Insider Buying and Selling at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the transaction, the director now owns 27,216 shares in the company, valued at approximately $5,606,496. This represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,234 shares of company stock valued at $42,030,790. 18.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zscaler

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global X Japan Co. Ltd. increased its stake in shares of 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 purchasing an additional 79 shares in the last quarter. ORG Partners LLC increased its stake in Zscaler by 284.8% during the 1st quarter. ORG Partners LLC now owns 127 shares of the company’s stock worth $26,000 after buying an additional 94 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Zscaler during the fourth quarter valued at approximately $27,000. Colonial Trust Co SC purchased a new position in shares of Zscaler in the fourth quarter valued at approximately $28,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Zscaler during the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Price Performance

ZS stock opened at $230.47 on Monday. The company has a market capitalization of $35.66 billion, a P/E ratio of -921.88 and a beta of 1.12. The business has a 50-day moving average price of $201.65 and a 200 day moving average price of $198.37. Zscaler has a 1-year low of $153.45 and a 1-year high of $231.93.

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.