Diversify Advisory Services LLC Raises Stake in Zscaler, Inc. (NASDAQ:ZS)

Diversify Advisory Services LLC grew its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 87.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 13,758 shares of the company’s stock after acquiring an additional 6,403 shares during the period. Diversify Advisory Services LLC’s holdings in Zscaler were worth $2,561,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Quest Partners LLC bought a new stake in Zscaler during the second quarter worth about $28,000. Asset Dedication LLC raised its holdings in Zscaler by 436.8% in 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 purchased a new stake in Zscaler in the second quarter worth about $50,000. GAMMA Investing LLC boosted its position in shares of Zscaler by 21.3% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after purchasing an additional 67 shares in the last quarter. Finally, Quarry LP grew its position in shares of Zscaler by 613.0% in the 2nd quarter. Quarry LP now owns 385 shares of the company’s stock worth $74,000 after buying an additional 331 shares during the period. 46.45% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the transaction, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Zscaler news, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the sale, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ZS. JMP Securities reissued a “market outperform” rating and issued a $270.00 target price on shares of Zscaler in a research note on Wednesday, September 4th. Raymond James began coverage on shares of Zscaler in a research report on Tuesday, July 23rd. They issued a “market perform” rating for the company. BTIG Research dropped their target price on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Piper Sandler cut their price objective on Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company lowered their target price on Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.73.

Zscaler Price Performance

NASDAQ ZS opened at $189.85 on Wednesday. The company has a fifty day moving average of $180.58 and a 200 day moving average of $180.75. The company has a market capitalization of $28.70 billion, a PE ratio of -372.25 and a beta of 0.82. Zscaler, Inc. has a 1 year low of $152.60 and a 1 year high of $259.61.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share 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 firm 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 firm earned ($0.17) EPS. The business’s quarterly revenue was up 30.3% on a year-over-year basis. Research analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current year.

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.