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) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,130 shares of the company’s stock, valued at approximately $565,000.

Other large investors have also recently modified their holdings of the company. Quest Partners LLC bought a new position in Zscaler during the 2nd quarter worth about $28,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Zscaler in the 3rd quarter worth approximately $31,000. Versant Capital Management Inc boosted its stake in shares of Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. True Wealth Design LLC increased its holdings in Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after buying an additional 185 shares during the period. Finally, Modus Advisors LLC bought a new position in Zscaler in the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Stock Performance

Shares of Zscaler stock opened at $185.84 on Friday. The firm has a 50-day simple moving average of $196.66 and a two-hundred day simple moving average of $187.94. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The company has a market cap of $28.52 billion, a P/E ratio of -743.36 and a beta of 0.87.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. During the same quarter in the prior year, the firm posted ($0.18) EPS. Zscaler’s quarterly revenue was up 26.4% compared to the same quarter last year. Equities research analysts forecast that Zscaler, Inc. will post -0.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ZS shares. JMP Securities reiterated a “market outperform” rating and issued a $240.00 price target (down from $270.00) on shares of Zscaler in a report on Tuesday, December 3rd. Jefferies Financial Group boosted their target price on shares of Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Guggenheim restated a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Cantor Fitzgerald upgraded shares of Zscaler to a “hold” rating in a research note on Monday, November 18th. Finally, BMO Capital Markets raised their target price on shares of Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. 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 company presently has an average rating of “Moderate Buy” and an average price target of $224.84.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the transaction, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. This trade represents a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert Schlossman sold 1,435 shares of the company’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 sale, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,683 shares of company stock worth $2,313,619 over the last 90 days. 18.10% of the stock is currently owned by company insiders.

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.