Essex Financial Services Inc. Has $368,000 Holdings in Zscaler, Inc. (NASDAQ:ZS)

Essex Financial Services Inc. raised its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 16.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,038 shares of the company’s stock after purchasing an additional 284 shares during the period. Essex Financial Services Inc.’s holdings in Zscaler were worth $368,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Global X Japan Co. Ltd. increased its stake in shares of Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. Prestige Wealth Management Group LLC bought a new stake in shares of Zscaler in the 3rd quarter valued at about $31,000. True Wealth Design LLC increased its stake in shares of Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after acquiring an additional 185 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of 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 acquiring an additional 104 shares during the last quarter. Finally, Modus Advisors LLC bought a new stake in Zscaler during the 4th quarter worth approximately $36,000. 46.45% of the stock is owned by institutional investors.

Zscaler Price Performance

Shares of Zscaler stock opened at $214.84 on Friday. The business has a fifty day simple moving average of $194.77 and a two-hundred day simple moving average of $189.04. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $255.00. The company has a market capitalization of $32.97 billion, a price-to-earnings ratio of -859.36 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. During the same quarter last year, the firm posted ($0.18) EPS. The company’s quarterly revenue was up 26.4% on a year-over-year basis. As a group, equities analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the transaction, the chief executive officer now owns 358,569 shares in the company, valued at $71,828,542.08. This trade represents a 0.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Remo Canessa sold 3,703 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares in the company, valued at $44,197,603.20. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,248 shares of company stock valued at $2,052,879 in the last quarter. 18.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ZS has been the subject of a number of research reports. Canaccord Genuity Group increased their target price on Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Morgan Stanley lowered their target price on Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 3rd. Susquehanna increased their target price on Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research note on Tuesday, December 3rd. Scotiabank increased their target price on Zscaler from $205.00 to $225.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Finally, KeyCorp increased their target price on Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $225.63.

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.