Diversify Advisory Services LLC Has $3.10 Million Holdings in Zscaler, Inc. (NASDAQ:ZS)

Diversify Advisory Services LLC raised its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 18.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,321 shares of the company's stock after acquiring an additional 2,563 shares during the quarter. Diversify Advisory Services LLC's holdings in Zscaler were worth $3,101,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Prestige Wealth Management Group LLC acquired a new stake in shares of Zscaler in the 3rd quarter worth approximately $31,000. Versant Capital Management Inc grew its holdings in Zscaler by 136.8% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. True Wealth Design LLC increased its position in shares of Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company's stock valued at $32,000 after buying an additional 185 shares in the last quarter. Modus Advisors LLC purchased a new position in shares of Zscaler in the fourth quarter valued at $36,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Zscaler in the 3rd quarter worth about $38,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Remo Canessa sold 3,703 shares of the firm's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the transaction, the chief financial officer now owns 220,635 shares of the company's stock, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Syam Nair sold 3,682 shares of the company's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the completion of the sale, the insider now directly owns 142,866 shares of the company's stock, valued at $28,618,917.12. The trade was a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ZS. Jefferies Financial Group increased their price objective on Zscaler from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. BMO Capital Markets raised their price target on shares of Zscaler from $197.00 to $222.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. Guggenheim reiterated a "neutral" rating on shares of Zscaler in a report on Tuesday, December 3rd. Loop Capital reduced their price objective on shares of Zscaler from $200.00 to $195.00 and set a "hold" rating on the stock in a research note on Tuesday, December 3rd. Finally, Morgan Stanley lowered their target price on shares of Zscaler from $215.00 to $205.00 and set an "equal weight" rating for the company in a research note on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $224.84.

Zscaler Stock Up 0.0 %

ZS stock traded up $0.03 during midday trading on Monday, reaching $187.58. The company had a trading volume of 1,303,200 shares, compared to its average volume of 1,444,462. The firm has a market capitalization of $28.78 billion, a PE ratio of -750.32 and a beta of 0.87. The stock has a 50 day moving average price of $196.20 and a 200 day moving average price of $187.91. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.14. The company had revenue of $628.00 million for the quarter, compared to analysts' expectations of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm's quarterly revenue was up 26.4% compared to the same quarter last year. During the same period last year, the business posted ($0.18) earnings per share. Research analysts predict that Zscaler, Inc. will post -0.16 EPS for the current year.

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.