Zscaler (NASDAQ:ZS) Hits New 52-Week High - What's Next?

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

Analyst Ratings Changes

ZS has been the subject of a number of analyst reports. UBS Group upped their target price on Zscaler from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Bank of America upgraded Zscaler from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $215.00 to $240.00 in a research note on Friday, March 7th. Barclays reiterated an "overweight" rating on shares of Zscaler in a report on Wednesday, March 5th. Roth Capital assumed coverage on shares of Zscaler in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $215.00 price target on the stock. Finally, Mizuho boosted their price objective on shares of Zscaler from $210.00 to $225.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Eight research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Zscaler has a consensus rating of "Moderate Buy" and a consensus target price of $236.66.

Zscaler Stock Performance

The stock has a market capitalization of $35.13 billion, a price-to-earnings ratio of -908.24 and a beta of 1.12. The firm's 50 day moving average is $200.90 and its 200-day moving average is $198.12.

Insider Transactions at Zscaler

In other news, Director Andrew William Fraser Brown sold 10,000 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the completion of the sale, the director now owns 27,216 shares of the company's stock, valued at $5,606,496. The trade was a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the transaction, the insider now owns 2,580,210 shares in the company, valued at approximately $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 209,234 shares of company stock valued at $42,030,790 in the last ninety days. 18.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

A number of large investors have recently modified their holdings of ZS. Global X Japan Co. Ltd. increased its position in Zscaler by 127.4% during the fourth 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 last quarter. ORG Partners LLC raised its position in shares of Zscaler by 284.8% during the 1st quarter. ORG Partners LLC now owns 127 shares of the company's stock valued at $26,000 after buying an additional 94 shares during the period. Summit Securities Group LLC acquired a new position in Zscaler in the fourth quarter valued at approximately $27,000. Colonial Trust Co SC purchased a new position in Zscaler in the fourth quarter worth approximately $28,000. Finally, Stonebridge Financial Group LLC acquired a new stake in Zscaler during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 46.45% of the company's stock.

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.