Proem Advisors LLC acquired a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 20,000 shares of the company's stock, valued at approximately $3,608,000. Zscaler makes up approximately 1.0% of Proem Advisors LLC's holdings, making the stock its 14th biggest position.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pictet Asset Management Holding SA increased its holdings in shares of Zscaler by 25.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock valued at $291,935,000 after purchasing an additional 332,307 shares in the last quarter. DnB Asset Management AS raised its position in shares of Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock worth $120,403,000 after acquiring an additional 267,162 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Zscaler by 30.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock valued at $156,739,000 after acquiring an additional 204,996 shares during the period. Norges Bank bought a new position in Zscaler in the fourth quarter valued at about $32,158,000. Finally, Raymond James Financial Inc. acquired a new stake in Zscaler in the fourth quarter worth about $28,072,000. 46.45% of the stock is owned by institutional investors.
Zscaler Trading Down 1.3 %
Shares of Zscaler stock traded down $2.32 on Tuesday, reaching $177.74. 2,075,937 shares of the company were exchanged, compared to its average volume of 1,944,596. The company has a market capitalization of $27.50 billion, a price-to-earnings ratio of -708.20 and a beta of 1.12. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The company has a 50-day moving average of $202.16 and a 200 day moving average of $194.83.
Analysts Set New Price Targets
ZS has been the topic of several recent research reports. Scotiabank reaffirmed a "sector outperform" rating and issued a $242.00 target price (up previously from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Rosenblatt Securities upgraded Zscaler from a "neutral" rating to a "buy" rating and upped their price objective for the company from $190.00 to $235.00 in a report on Thursday, March 6th. Sanford C. Bernstein restated an "outperform" rating and set a $244.00 target price on shares of Zscaler in a report on Thursday, March 6th. Wells Fargo & Company boosted their target price on Zscaler from $190.00 to $210.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 6th. Finally, Citigroup reissued a "buy" rating and set a $240.00 price objective (up previously from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $234.94.
Get Our Latest Stock Report on ZS
Insider Buying and Selling
In related news, insider Robert Schlossman sold 2,878 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the sale, the insider now owns 107,587 shares in the company, valued at approximately $21,425,951.05. This represents a 2.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. This represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,234 shares of company stock worth $42,030,790. Insiders own 18.10% of the company's stock.
About Zscaler
(
Free Report)
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.
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