4,365 Shares in Zscaler, Inc. (NASDAQ:ZS) Acquired by Merit Financial Group LLC

Merit Financial Group LLC bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,365 shares of the company's stock, valued at approximately $787,000.

Several other institutional investors have also modified their holdings of the stock. Prestige Wealth Management Group LLC acquired a new stake in Zscaler in the 3rd quarter worth about $31,000. True Wealth Design LLC increased its stake 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 worth $32,000 after buying an additional 185 shares during the last quarter. Versant Capital Management Inc raised its stake in Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $32,000 after buying an additional 104 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of Zscaler during the fourth quarter worth $36,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Zscaler during the 3rd quarter worth $38,000. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Trading Up 0.7 %

NASDAQ ZS traded up $1.27 during mid-day trading on Wednesday, reaching $193.08. 301,030 shares of the company's stock traded hands, compared to its average volume of 1,391,715. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61. The company has a market cap of $29.63 billion, a price-to-earnings ratio of -771.08 and a beta of 0.87. The company has a fifty day simple moving average of $195.86 and a 200-day simple moving average of $187.84.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on ZS. Canaccord Genuity Group upped their price target on Zscaler from $220.00 to $230.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. Jefferies Financial Group raised 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. Stifel Nicolaus increased their price objective on Zscaler from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Guggenheim reissued a "neutral" rating on shares of Zscaler in a research note on Tuesday, December 3rd. Finally, BTIG Research lifted their target price on shares of Zscaler from $205.00 to $238.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $225.47.

Insider Buying and Selling

In related news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the company's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $573,516.16. Following the completion of the transaction, the chief executive officer now directly owns 358,569 shares in the company, valued at $71,828,542.08. This represents a 0.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Remo Canessa sold 3,703 shares of the business's stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $741,784.96. Following the sale, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,248 shares of company stock worth $2,052,879. Corporate insiders own 18.10% 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.