Proficio Capital Partners LLC Purchases Shares of 29,407 Zscaler, Inc. (NASDAQ:ZS)

Proficio Capital Partners LLC purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 29,407 shares of the company’s stock, valued at approximately $5,305,000.

Other hedge funds have also recently made changes to their positions in the company. abrdn plc lifted its position in shares of Zscaler by 14.7% during the 3rd quarter. abrdn plc now owns 29,602 shares of the company’s stock valued at $5,060,000 after acquiring an additional 3,783 shares during the period. Clear Creek Financial Management LLC increased its stake in Zscaler by 4.8% in the third quarter. Clear Creek Financial Management LLC now owns 2,152 shares of the company’s stock valued at $368,000 after purchasing an additional 98 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Zscaler by 42.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,883 shares of the company’s stock worth $664,000 after purchasing an additional 1,165 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Zscaler by 1,786.5% during the 3rd quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock worth $2,728,000 after purchasing an additional 14,274 shares in the last quarter. Finally, Klingenstein Fields & Co. LP grew its stake in shares of Zscaler by 5.2% in the 3rd quarter. Klingenstein Fields & Co. LP now owns 94,026 shares of the company’s stock valued at $16,073,000 after buying an additional 4,660 shares during the period. 46.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Stifel Nicolaus increased their price target on Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft increased their target price on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Oppenheimer boosted their price target on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $240.00 price objective (down from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Finally, Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a research report on Monday, November 18th. Eleven equities research 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, Zscaler presently has a consensus rating of “Moderate Buy” and an average price target of $226.56.

Insider Transactions at Zscaler

In other news, insider Syam Nair sold 3,682 shares of Zscaler 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 transaction, the insider now directly owns 142,866 shares in the company, valued at approximately $28,618,917.12. The trade was a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the sale, the chief executive officer now owns 358,569 shares in the company, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,248 shares of company stock worth $2,052,879 over the last quarter. Corporate insiders own 18.10% of the company’s stock.

Zscaler Price Performance

Shares of ZS opened at $188.79 on Tuesday. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $221.62. The stock’s fifty day moving average price is $195.69 and its two-hundred day moving average price is $191.53. The firm has a market cap of $28.97 billion, a PE ratio of -755.16 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.18) EPS. Sell-side analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

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.