Proficio Capital Partners LLC Takes Position in Zscaler, Inc. (NASDAQ:ZS)

Proficio Capital Partners LLC purchased a new stake in Zscaler, Inc. (NASDAQ:ZS) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 29,407 shares of the company’s stock, valued at approximately $5,305,000.

Several other large investors have also modified their holdings of ZS. Champlain Investment Partners LLC lifted its stake in shares of Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after purchasing an additional 283,540 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Zscaler by 33.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after buying an additional 100,814 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Zscaler by 59.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company’s stock valued at $34,421,000 after buying an additional 71,297 shares during the period. Thematics Asset Management raised its holdings in shares of Zscaler by 88.5% in the 3rd quarter. Thematics Asset Management now owns 147,000 shares of the company’s stock valued at $25,128,000 after buying an additional 69,000 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Zscaler by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after buying an additional 60,414 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insider Buying and Selling at Zscaler

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the sale, the chief financial officer now owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. The trade was a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the sale, the insider now directly owns 142,866 shares of the company’s stock, valued at $28,618,917.12. The trade was a 2.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,248 shares of company stock valued at $2,052,879. Company insiders own 18.10% of the company’s stock.

Zscaler Stock Up 4.3 %

Shares of NASDAQ:ZS opened at $197.81 on Monday. The company has a market cap of $30.61 billion, a P/E ratio of -791.24 and a beta of 0.88. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84. The business has a fifty day simple moving average of $198.14 and a 200-day simple moving average of $191.59.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group increased their target price on Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Robert W. Baird increased their target price on Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. 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. Wells Fargo & Company increased their target price on Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group set a $207.00 price objective on Zscaler and gave the company a “neutral” rating in a research note on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.88.

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.