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

Diversify Advisory Services LLC lifted its stake in Zscaler, Inc. (NASDAQ:ZS) by 18.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,321 shares of the company’s stock after buying an additional 2,563 shares during the period. Diversify Advisory Services LLC’s holdings in Zscaler were worth $3,101,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Kera Capital Partners Inc. acquired a new position in shares of Zscaler in the 4th quarter valued at $1,869,000. KRS Capital Management LLC raised its position in Zscaler by 1.9% in the fourth quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock worth $588,000 after purchasing an additional 60 shares in the last quarter. Shelton Wealth Management LLC raised its position in Zscaler by 2.8% in the fourth quarter. Shelton Wealth Management LLC now owns 6,317 shares of the company’s stock worth $1,140,000 after purchasing an additional 171 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Zscaler during the fourth quarter valued at approximately $787,000. Finally, Avanza Fonder AB bought a new position in shares of Zscaler during the 4th quarter worth approximately $1,211,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Susquehanna upped their price objective on shares of Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their price target on Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Stifel Nicolaus lifted 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. KeyCorp increased their target price on Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Jefferies Financial Group raised their target price on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Eleven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and a consensus target price of $224.84.

Insiders Place Their Bets

In other news, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $737,578.24. Following the transaction, the insider now owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 10,248 shares of company stock valued at $2,052,879 over the last ninety days. 18.10% of the stock is currently owned by company insiders.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $187.58 on Monday. The business has a 50-day moving average of $196.44 and a 200-day moving average of $187.99. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61.

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