Proficio Capital Partners LLC Makes New $5.31 Million Investment in Zscaler, Inc. (NASDAQ:ZS)

Proficio Capital Partners LLC acquired a new stake in Zscaler, Inc. (NASDAQ:ZS) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 29,407 shares of the company’s stock, valued at approximately $5,305,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ZS. Geode Capital Management LLC grew its holdings in Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after purchasing an additional 60,414 shares during the period. Champlain Investment Partners LLC boosted its stake in shares of Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after acquiring an additional 283,540 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Zscaler by 3.2% during the 4th quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company’s stock worth $97,261,000 after acquiring an additional 16,742 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in 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 acquiring an additional 100,814 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Zscaler by 11.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after purchasing an additional 37,801 shares during the last quarter. 46.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 price objective on shares of Zscaler in a report on Friday, January 10th. Piper Sandler upped their price target on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Cantor Fitzgerald upgraded shares of Zscaler to a “hold” rating in a research report on Monday, November 18th. Canaccord Genuity Group upped their target price on Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, JMP Securities reissued a “market outperform” rating and set a $240.00 price target (down from $270.00) on shares of Zscaler in a report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $226.56.

Zscaler Price Performance

Shares of Zscaler stock opened at $188.79 on Tuesday. The company’s 50 day moving average price is $195.69 and its two-hundred day moving average price is $191.53. The firm has a market capitalization of $28.97 billion, a P/E ratio of -755.16 and a beta of 0.89. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $221.62.

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

Insider Buying and Selling at Zscaler

In related news, insider Syam Nair sold 3,682 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 $737,578.24. Following the completion of the sale, the insider now directly owns 142,866 shares in the company, valued at $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Remo Canessa sold 3,703 shares of Zscaler stock in a transaction dated 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 directly owns 220,635 shares in the company, valued at $44,197,603.20. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is currently owned by insiders.

Zscaler Company 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.