Diversify Advisory Services LLC Makes New Investment in Zscaler, Inc. (NASDAQ:ZS)

Diversify Advisory Services LLC acquired a new position in Zscaler, Inc. (NASDAQ:ZS) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,509 shares of the company’s stock, valued at approximately $482,000.

A number of other large investors have also modified their holdings of ZS. Vanguard Group Inc. increased its stake in shares of Zscaler by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company’s stock worth $1,959,426,000 after purchasing an additional 206,908 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Zscaler during the fourth quarter worth about $217,683,000. Norges Bank purchased a new stake in shares of Zscaler during the fourth quarter worth about $117,599,000. Westfield Capital Management Co. LP increased its stake in shares of Zscaler by 19.1% during the fourth quarter. Westfield Capital Management Co. LP now owns 412,063 shares of the company’s stock worth $91,297,000 after purchasing an additional 65,980 shares in the last quarter. Finally, Polar Capital Holdings Plc purchased a new stake in shares of Zscaler during the third quarter worth about $61,681,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of Zscaler from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Oppenheimer restated an “outperform” rating and issued a $260.00 price objective (down from $290.00) on shares of Zscaler in a report on Friday, May 31st. Wells Fargo & Company restated an “equal weight” rating and issued a $182.00 price objective (down from $275.00) on shares of Zscaler in a report on Tuesday, May 28th. Susquehanna decreased their price objective on shares of Zscaler from $275.00 to $210.00 and set a “positive” rating on the stock in a report on Friday, May 31st. Finally, JMP Securities restated a “market outperform” rating and issued a $270.00 price objective on shares of Zscaler in a report on Monday, June 17th. Six investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $225.21.

Insider Activity at Zscaler

In other Zscaler news, CFO Remo Canessa sold 4,689 shares of Zscaler stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $180.93, for a total transaction of $848,380.77. Following the completion of the transaction, the chief financial officer now owns 251,467 shares in the company, valued at $45,497,924.31. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 19.20% of the company’s stock.

Zscaler Stock Performance

Shares of ZS stock traded up $3.25 during mid-day trading on Friday, hitting $201.65. The stock had a trading volume of 1,693,431 shares, compared to its average volume of 2,103,971. Zscaler, Inc. has a fifty-two week low of $131.59 and a fifty-two week high of $259.61. 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 company’s 50-day simple moving average is $179.22 and its 200-day simple moving average is $202.12.

Zscaler (NASDAQ:ZS) last released its earnings results on Thursday, May 30th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of ($0.24) by $0.39. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The company had revenue of $553.20 million during the quarter, compared to analysts’ expectations of $535.55 million. As a group, sell-side analysts anticipate that Zscaler, Inc. will post -0.34 earnings per share for the current year.

Zscaler 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.