Poinciana Advisors Group LLC Invests $270,000 in Zscaler, Inc. (NASDAQ:ZS)

Poinciana Advisors Group LLC purchased a new position in Zscaler, Inc. (NASDAQ:ZS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,496 shares of the company’s stock, valued at approximately $270,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC boosted 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 worth $277,327,000 after buying an additional 60,414 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in Zscaler by 28.2% during the third 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. Bank of New York Mellon Corp lifted its holdings in Zscaler by 3.2% during the fourth quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company’s stock valued at $97,261,000 after purchasing an additional 16,742 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in Zscaler by 33.8% during the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after purchasing an additional 100,814 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Zscaler by 11.0% during the third 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 hedge funds and other institutional investors.

Insider Activity

In other news, insider Syam Nair sold 3,682 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the completion of the sale, the insider now owns 142,866 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, CFO Remo Canessa sold 3,703 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the sale, the chief financial officer now directly owns 220,635 shares of the company’s stock, valued at $44,197,603.20. The trade was a 1.65 % 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. 18.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a report on Thursday, March 6th. Royal Bank of Canada upped their price objective on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Mizuho upped their price objective on shares of Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Barclays reaffirmed an “overweight” rating on shares of Zscaler in a report on Wednesday, March 5th. Finally, BTIG Research set a $252.00 price target on Zscaler and gave the company a “buy” rating in a research report on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $233.88.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $197.81 on Friday. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The firm’s 50 day simple moving average is $198.14 and its two-hundred day simple moving average is $191.64. The stock has a market capitalization of $30.61 billion, a P/E ratio of -791.24 and a beta of 0.88.

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.