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

Zscaler (NASDAQ:ZS) had its price objective decreased by Jefferies Financial Group from $245.00 to $240.00 in a research report sent to investors on Monday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Other analysts also recently issued reports about the stock. Needham & Company LLC reissued a “buy” rating and set a $240.00 price objective on shares of Zscaler in a research report on Wednesday, March 5th. Piper Sandler raised their price target on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Barclays reaffirmed an “overweight” rating on shares of Zscaler in a research report on Wednesday, March 5th. Robert W. Baird lifted their target price on Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Finally, Bank of America raised 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 report on Friday, March 7th. Nine research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Zscaler presently has an average rating of “Moderate Buy” and a consensus target price of $232.35.

Zscaler Stock Up 3.0 %

ZS stock opened at $207.04 on Monday. The business has a 50 day moving average of $202.77 and a 200 day moving average of $194.42. The firm has a market cap of $32.03 billion, a PE ratio of -828.16 and a beta of 1.12. Zscaler has a twelve month low of $153.45 and a twelve month high of $217.84.

Insider Buying and Selling

In related news, insider Robert Schlossman sold 2,878 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the transaction, the insider now directly owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. This represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares in the company, 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. In the last three months, insiders have sold 199,234 shares of company stock valued at $39,970,790. Corporate insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC grew its position in Zscaler by 120.1% in the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock valued at $173,921,000 after acquiring an additional 525,956 shares during the last quarter. Natixis purchased a new stake in shares of Zscaler during the fourth quarter valued at $87,775,000. Greenvale Capital LLP bought a new position in shares of Zscaler in the fourth quarter worth about $72,164,000. Pictet Asset Management Holding SA increased its stake in Zscaler by 25.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock worth $291,935,000 after buying an additional 332,307 shares during the period. Finally, DnB Asset Management AS lifted its holdings in Zscaler by 66.8% during the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock valued at $120,403,000 after buying an additional 267,162 shares in the last quarter. 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.