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

Proficio Capital Partners LLC bought a new position in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 29,407 shares of the company's stock, valued at approximately $5,305,000.

Several other hedge funds also recently made changes to their positions in the company. Global X Japan Co. Ltd. boosted its holdings in shares of Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock valued at $25,000 after buying an additional 79 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Zscaler during the 4th quarter valued at $29,000. Prestige Wealth Management Group LLC bought a new stake in shares of Zscaler during the 3rd quarter valued at $31,000. True Wealth Design LLC boosted its stake in Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company's stock worth $32,000 after purchasing an additional 185 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company's stock worth $32,000 after purchasing an additional 104 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Trading Down 0.2 %

NASDAQ ZS traded down $0.40 on Thursday, reaching $203.55. 951,039 shares of the stock were exchanged, compared to its average volume of 1,861,258. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The firm has a market capitalization of $31.49 billion, a PE ratio of -814.20 and a beta of 0.88. The company's 50-day simple moving average is $199.11 and its two-hundred day simple moving average is $191.72.

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Insiders Place Their Bets

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the sale, the insider now directly owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 18.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ZS. Loop Capital dropped their price target on shares of Zscaler from $200.00 to $195.00 and set a "hold" rating on the stock in a research note on Tuesday, December 3rd. Citigroup reiterated a "buy" rating and issued a $240.00 price target (up previously from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $244.00 price target on shares of Zscaler in a research note on Thursday, March 6th. Susquehanna upped their price target on shares of Zscaler from $210.00 to $225.00 and gave the stock a "positive" rating in a research note on Tuesday, December 3rd. Finally, Bank of America upgraded shares of Zscaler from a "neutral" rating to a "buy" rating and upped their price target for the stock from $215.00 to $240.00 in a research note on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, Zscaler currently has a consensus rating of "Moderate Buy" and a consensus price target of $232.68.

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.