Everence Capital Management Inc. Makes New $565,000 Investment in Zscaler, Inc. (NASDAQ:ZS)

Everence Capital Management Inc. purchased a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 3,130 shares of the company’s stock, valued at approximately $565,000.

A number of other hedge funds have also recently modified their holdings of ZS. Quest Partners LLC acquired a new stake in Zscaler during the second quarter worth $28,000. Prestige Wealth Management Group LLC purchased a new position in shares of Zscaler during the 3rd quarter worth $31,000. True Wealth Design LLC increased its position in shares of Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after purchasing an additional 185 shares during the last quarter. Versant Capital Management Inc raised its holdings in Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after buying an additional 104 shares during the period. Finally, Modus Advisors LLC acquired a new position in Zscaler in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Transactions at Zscaler

In other news, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the transaction, the insider now directly owns 142,866 shares in the company, valued at $28,618,917.12. The trade was a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the sale, the insider now owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. The trade was a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,683 shares of company stock worth $2,313,619 over the last 90 days. 18.10% of the stock is currently owned by insiders.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $185.84 on Friday. The stock has a market cap of $28.52 billion, a P/E ratio of -743.36 and a beta of 0.87. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61. The firm has a fifty day moving average price of $196.66 and a 200 day moving average price of $187.94.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 0.75% and a negative net margin of 1.58%. The business’s revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.18) earnings per share. Sell-side analysts expect that Zscaler, Inc. will post -0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ZS. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a report on Monday, November 18th. BTIG Research raised their target price on Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Canaccord Genuity Group boosted their price target on shares of Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, BNP Paribas started coverage on shares of Zscaler in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price objective for the company. Eleven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $224.84.

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.