Zscaler (NASDAQ:ZS) Now Covered by Morgan Stanley

Morgan Stanley started coverage on shares of Zscaler (NASDAQ:ZS) in a report issued on Tuesday, Marketbeat.com reports. The firm issued an equal weight rating on the stock.

ZS has been the topic of several other reports. Royal Bank of Canada boosted their price target on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Susquehanna boosted their price target on shares of Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. boosted their price target on shares of Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $232.68.

Zscaler Stock Down 0.2 %

Zscaler stock opened at $203.55 on Tuesday. The company’s fifty day simple moving average is $199.43 and its 200-day simple moving average is $191.81. Zscaler has a 12 month low of $153.45 and a 12 month high of $217.84. The stock has a market cap of $31.49 billion, a P/E ratio of -814.20 and a beta of 0.88.

Insiders Place Their Bets

In other Zscaler news, CFO Remo Canessa sold 3,721 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $741,037.15. Following the completion of the sale, the chief financial officer now owns 213,702 shares of the company’s stock, valued at approximately $42,558,753.30. This trade represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 199,234 shares of company stock worth $39,970,790 over the last quarter. Company insiders own 18.10% of the company’s stock.

Institutional Trading of Zscaler

A number of institutional investors and hedge funds have recently made changes to their positions in ZS. Fred Alger Management LLC lifted its stake in shares of Zscaler by 1,151.0% in the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after purchasing an additional 9,542 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Zscaler by 11.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after acquiring an additional 37,801 shares in the last quarter. Zweig DiMenna Associates LLC raised its position in shares of Zscaler by 29.8% during the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock worth $14,061,000 after acquiring an additional 17,900 shares in the last quarter. Baader Bank Aktiengesellschaft increased its position in Zscaler by 30.3% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after buying an additional 1,952 shares during the period. Finally, Benjamin Edwards Inc. acquired a new position in Zscaler during the third quarter worth approximately $449,000. 46.45% of the stock is currently owned by hedge funds and other 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.