Zscaler (NASDAQ:ZS) Shares Up 2%

Zscaler, Inc. (NASDAQ:ZSGet Free Report) rose 2% during mid-day trading on Friday . The stock traded as high as $186.00 and last traded at $184.66. Approximately 1,013,696 shares were traded during trading, a decline of 55% from the average daily volume of 2,248,187 shares. The stock had previously closed at $181.05.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ZS shares. Morgan Stanley lowered their price objective on shares of Zscaler from $214.00 to $202.00 and set an “equal weight” rating on the stock in a research note on Friday, May 24th. Sanford C. Bernstein decreased their price target on Zscaler from $280.00 to $270.00 and set an “outperform” rating on the stock in a research note on Friday, May 31st. BMO Capital Markets reaffirmed an “outperform” rating and set a $208.00 price objective on shares of Zscaler in a report on Friday. BTIG Research lowered their target price on Zscaler from $258.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Finally, Cantor Fitzgerald lowered their price target on shares of Zscaler from $230.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Six equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and an average price target of $225.21.

View Our Latest Report on ZS

Zscaler Trading Up 1.7 %

The company has a current ratio of 1.75, a quick ratio of 1.98 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average of $176.10 and a 200 day moving average of $203.96. The company has a market cap of $27.84 billion, a P/E ratio of -362.04 and a beta of 0.85.

Insider Activity

In other news, CFO Remo Canessa sold 7,707 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $1,488,607.05. Following the completion of the sale, the chief financial officer now directly owns 255,943 shares of the company’s stock, valued at $49,435,390.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $408,512.25. Following the sale, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Remo Canessa sold 7,707 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $1,488,607.05. Following the completion of the transaction, the chief financial officer now directly owns 255,943 shares of the company’s stock, valued at $49,435,390.45. The disclosure for this sale can be found here. Insiders sold a total of 12,715 shares of company stock worth $2,455,902 over the last quarter. 19.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. purchased a new position in Zscaler in the 4th quarter worth approximately $217,683,000. Norges Bank bought a new stake in Zscaler during the fourth quarter worth about $117,599,000. Polar Capital Holdings Plc purchased a new stake in shares of Zscaler in the 3rd quarter worth approximately $61,681,000. Trivest Advisors Ltd purchased a new position in shares of Zscaler in the 4th quarter worth about $72,051,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Zscaler during the first quarter valued at approximately $47,217,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Company Profile

(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.

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