Vinva Investment Management Ltd Trims Position in Zscaler, Inc. (NASDAQ:ZS)

Vinva Investment Management Ltd decreased its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 41.4% during the third quarter, Holdings Channel reports. The institutional investor owned 4,614 shares of the company’s stock after selling 3,258 shares during the period. Vinva Investment Management Ltd’s holdings in Zscaler were worth $793,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ZS. Champlain Investment Partners LLC grew its holdings in Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after buying an additional 283,540 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Zscaler by 13,498.6% in the 3rd quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock valued at $48,769,000 after acquiring an additional 283,201 shares during the last quarter. GuoLine Advisory Pte Ltd purchased a new stake in Zscaler in the 3rd quarter worth $32,660,000. Massachusetts Financial Services Co. MA bought a new position in shares of Zscaler during the 2nd quarter valued at about $25,287,000. Finally, Westfield Capital Management Co. LP increased its holdings in shares of Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after purchasing an additional 100,814 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ZS shares. UBS Group reduced their price target on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. BTIG Research upped their price objective on Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday. Susquehanna reaffirmed a “positive” rating and set a $210.00 price target on shares of Zscaler in a research note on Thursday, September 5th. Citigroup dropped their target price on shares of Zscaler from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. lifted their price target on Zscaler from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Friday. Ten investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $221.13.

Zscaler Stock Up 0.8 %

NASDAQ:ZS opened at $206.59 on Friday. The company has a 50 day moving average price of $190.12 and a 200-day moving average price of $184.72. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. The company’s revenue was up 30.3% compared to the same quarter last year. Analysts forecast that Zscaler, Inc. will post -0.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Robert Schlossman sold 1,435 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the sale, the insider now owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This represents a 1.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the sale, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at $61,906,072.96. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is owned by corporate insiders.

Zscaler 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.