Zscaler (NASDAQ:ZS) Price Target Lowered to $240.00 at Jefferies Financial Group

Zscaler (NASDAQ:ZS) had its price target reduced by analysts at Jefferies Financial Group from $245.00 to $240.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 21.13% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Piper Sandler upped their price objective on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Morgan Stanley started coverage on Zscaler in a research note on Tuesday, March 18th. They set an “equal weight” rating on the stock. Guggenheim reiterated a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Rosenblatt Securities upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $190.00 to $235.00 in a research report on Thursday, March 6th. Finally, Wells Fargo & Company boosted their target price on shares of Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a report on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $232.52.

Zscaler Stock Down 4.3 %

Shares of NASDAQ ZS traded down $9.01 during trading on Monday, hitting $198.14. The company had a trading volume of 2,205,243 shares, compared to its average volume of 1,898,510. The firm has a market capitalization of $30.66 billion, a price-to-earnings ratio of -794.10 and a beta of 0.88. The stock has a fifty day simple moving average of $202.08 and a two-hundred day simple moving average of $193.89. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $217.84.

Insider Buying and Selling at Zscaler

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business’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 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 $70,979,848.10. This trade represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 199,234 shares of company stock worth $39,970,790 in the last 90 days. 18.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zscaler

Large investors have recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. raised its position in shares of Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares during the period. Summit Securities Group LLC acquired a new stake in Zscaler in the fourth quarter worth $27,000. Colonial Trust Co SC acquired a new stake in Zscaler in the fourth quarter worth $28,000. Stonebridge Financial Group LLC bought a new stake in Zscaler in the fourth quarter valued at $29,000. Finally, Elequin Capital LP bought a new position in shares of Zscaler during the fourth quarter worth about $30,000. 46.45% of the stock is currently owned by institutional investors.

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.