Diversify Wealth Management LLC Makes New $2.92 Million Investment in Zscaler, Inc. (NASDAQ:ZS)

Diversify Wealth Management LLC purchased a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,216 shares of the company's stock, valued at approximately $2,924,000.

Other institutional investors have also recently made changes to their positions in the company. Private Advisor Group LLC increased its stake in Zscaler by 42.8% during the 4th quarter. Private Advisor Group LLC now owns 2,101 shares of the company's stock valued at $465,000 after purchasing an additional 630 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Zscaler in the 4th quarter worth about $82,000. Dimensional Fund Advisors LP lifted its position in Zscaler by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 145,455 shares of the company's stock valued at $32,230,000 after acquiring an additional 4,257 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Zscaler by 721.1% during the 4th quarter. Principal Financial Group Inc. now owns 88,592 shares of the company's stock valued at $19,628,000 after purchasing an additional 77,802 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in Zscaler by 27.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 5,945 shares of the company's stock worth $1,317,000 after purchasing an additional 1,278 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

Zscaler Price Performance

NASDAQ:ZS traded up $3.35 during trading hours on Friday, hitting $170.06. 1,992,238 shares of the company's stock traded hands, compared to its average volume of 2,381,753. The firm has a market cap of $25.70 billion, a P/E ratio of -333.45 and a beta of 0.82. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The business's fifty day simple moving average is $184.05 and its two-hundred day simple moving average is $184.44. Zscaler, Inc. has a 52 week low of $146.59 and a 52 week high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. Zscaler had a negative return on equity of 3.75% and a negative net margin of 2.66%. The company had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. Zscaler's revenue was up 30.3% on a year-over-year basis. On average, research analysts anticipate that Zscaler, Inc. will post -0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ZS has been the topic of a number of recent research reports. UBS Group dropped their target price on Zscaler from $270.00 to $250.00 and set a "buy" rating on the stock in a report on Wednesday, September 4th. JMP Securities reaffirmed a "market outperform" rating and set a $270.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. Barclays lowered their target price on shares of Zscaler from $230.00 to $200.00 and set an "overweight" rating for the company in a report on Wednesday, September 4th. Raymond James began coverage on shares of Zscaler in a report on Tuesday, July 23rd. They set a "market perform" rating on the stock. Finally, Citigroup decreased their price objective on shares of Zscaler from $270.00 to $240.00 and set a "buy" rating for the company in a research note on Wednesday, June 5th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $218.39.

Insider Buying and Selling at Zscaler

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of the company's stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.21, for a total value of $1,414,313.01. Following the completion of the sale, the chief financial officer now owns 243,486 shares of the company's stock, valued at $43,148,154.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 19.20% 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.