Diversify Advisory Services LLC Has $2.56 Million Stake in Zscaler, Inc. (NASDAQ:ZS)

Diversify Advisory Services LLC boosted its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 87.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,758 shares of the company's stock after acquiring an additional 6,403 shares during the quarter. Diversify Advisory Services LLC's holdings in Zscaler were worth $2,561,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Quest Partners LLC bought a new stake in Zscaler during the 2nd quarter worth about $28,000. Asset Dedication LLC increased its holdings in Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company's stock worth $39,000 after purchasing an additional 166 shares in the last quarter. American Capital Advisory LLC bought a new stake in shares of Zscaler in the second quarter worth $50,000. GAMMA Investing LLC grew its holdings in shares of Zscaler by 21.3% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company's stock valued at $73,000 after acquiring an additional 67 shares in the last quarter. Finally, Quarry LP increased its position in shares of Zscaler by 613.0% during the 2nd quarter. Quarry LP now owns 385 shares of the company's stock worth $74,000 after purchasing an additional 331 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Cantor Fitzgerald decreased their price target on Zscaler from $200.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 4th. Oppenheimer lowered their target price on Zscaler from $260.00 to $230.00 and set an "outperform" rating for the company in a report on Wednesday, September 4th. Wedbush cut their target price on Zscaler from $260.00 to $220.00 and set an "outperform" rating on the stock in a report on Wednesday, September 4th. Needham & Company LLC lowered their price target on Zscaler from $290.00 to $235.00 and set a "strong-buy" rating for the company in a research report on Wednesday, September 4th. Finally, Mizuho downgraded Zscaler from an "outperform" rating to a "neutral" rating and set a $220.00 price objective for the company. in a research note on Tuesday, July 16th. Ten investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $216.73.

Zscaler Stock Performance

NASDAQ:ZS traded down $0.75 during trading hours on Wednesday, reaching $189.10. The company's stock had a trading volume of 412,222 shares, compared to its average volume of 2,057,479. The firm has a 50-day simple moving average of $180.58 and a 200-day simple moving average of $180.75. Zscaler, Inc. has a 1 year low of $152.60 and a 1 year high of $259.61. The firm has a market capitalization of $28.58 billion, a price-to-earnings ratio of -373.65 and a beta of 0.82.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The company had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. During the same period in the previous year, the business posted ($0.17) earnings per share. The firm's quarterly revenue was up 30.3% compared to the same quarter last year. Equities analysts anticipate that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Robert Schlossman sold 4,947 shares of the business's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the sale, the insider now directly owns 107,241 shares in the company, valued at approximately $18,254,563.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Andrew William Fraser Brown sold 8,000 shares of the company's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the sale, the director now directly owns 25,907 shares in the company, valued at $4,510,408.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert Schlossman sold 4,947 shares of the company's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $170.22, for a total value of $842,078.34. Following the completion of the sale, the insider now directly owns 107,241 shares of the company's stock, valued at $18,254,563.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock valued at $5,256,651 over the last 90 days. 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.