Zscaler (NASDAQ:ZS) Sets New 52-Week High – What’s Next?

Shares of Zscaler, Inc. (NASDAQ:ZS) reached a new 52-week high during trading on Monday . The stock traded as high as $221.50 and last traded at $221.31, with a volume of 693210 shares. The stock had previously closed at $215.58.

Analyst Upgrades and Downgrades

ZS has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised 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. Citigroup restated a “buy” rating and set a $240.00 target price (up from $235.00) on shares of Zscaler in a 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 note on Thursday, March 6th. Mizuho raised their price objective on Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Finally, Robert W. Baird upped their target price on Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $236.66.

Zscaler Price Performance

The firm has a market cap of $34.64 billion, a P/E ratio of -895.40 and a beta of 1.12. The stock’s 50 day moving average is $199.74 and its two-hundred day moving average is $197.72.

Insider Transactions at Zscaler

In other Zscaler news, CFO Remo Canessa sold 3,721 shares of Zscaler stock in a transaction on 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 transaction, the chief financial officer now owns 213,702 shares in the company, valued at approximately $42,558,753.30. The trade was a 1.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 2,878 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the completion of the transaction, the insider now directly owns 107,587 shares in the company, valued at approximately $21,425,951.05. This represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,234 shares of company stock valued at $42,030,790. Corporate insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quintet Private Bank Europe S.A. increased its stake in shares of Zscaler by 4.7% in the 1st quarter. Quintet Private Bank Europe S.A. now owns 1,120 shares of the company’s stock valued at $222,000 after buying an additional 50 shares during the period. Corebridge Financial Inc. increased its position in Zscaler by 0.5% in the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock worth $2,110,000 after purchasing an additional 54 shares during the period. Erste Asset Management GmbH raised its holdings in Zscaler by 0.6% during the 4th quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock worth $1,805,000 after purchasing an additional 56 shares during the last quarter. KRS Capital Management LLC lifted its position in Zscaler by 1.9% during the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock valued at $588,000 after purchasing an additional 60 shares during the period. Finally, Ironwood Investment Management LLC grew its position in shares of Zscaler by 1.0% during the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock worth $1,127,000 after buying an additional 64 shares during the period. Institutional investors and hedge funds 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.