iA Global Asset Management Inc. Sells 107,613 Shares of Zscaler, Inc. (NASDAQ:ZS)

iA Global Asset Management Inc. decreased its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 87.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,408 shares of the company's stock after selling 107,613 shares during the quarter. iA Global Asset Management Inc.'s holdings in Zscaler were worth $2,634,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ZS. Quest Partners LLC bought a new stake in shares of Zscaler during the second quarter worth $28,000. True Wealth Design LLC lifted its stake in Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company's stock valued at $32,000 after buying an additional 185 shares during the period. Asset Dedication LLC lifted its stake in Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company's stock valued at $39,000 after buying an additional 166 shares during the period. American Capital Advisory LLC acquired a new position in Zscaler in the second quarter valued at about $50,000. Finally, Quarry LP lifted its stake in Zscaler by 613.0% in the second quarter. Quarry LP now owns 385 shares of the company's stock valued at $74,000 after buying an additional 331 shares during the period. Institutional investors own 46.45% of the company's stock.

Zscaler Stock Down 2.8 %

ZS traded down $5.86 during midday trading on Monday, hitting $206.13. 2,026,517 shares of the company were exchanged, compared to its average volume of 2,059,326. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61. The firm's 50 day moving average price is $193.47 and its 200-day moving average price is $185.80.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.63 by $0.14. The firm had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business's quarterly revenue was up 26.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.18) EPS. On average, analysts anticipate that Zscaler, Inc. will post -0.31 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on ZS shares. Scotiabank increased their target price on Zscaler from $195.00 to $205.00 and gave the company a "sector outperform" rating in a research note on Tuesday, December 3rd. Morgan Stanley lowered their price target on Zscaler from $215.00 to $205.00 and set an "equal weight" rating for the company in a report on Tuesday, December 3rd. KeyCorp increased their price target on Zscaler from $245.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Barclays increased their price objective on Zscaler from $200.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday, November 21st. Finally, BNP Paribas initiated coverage on Zscaler in a report on Tuesday, October 8th. They set a "neutral" rating and a $180.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, Zscaler has a consensus rating of "Moderate Buy" and an average target price of $224.84.

Insider Activity

In related news, insider Robert Schlossman sold 4,947 shares of the company's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the transaction, the insider now directly owns 107,241 shares of the company's stock, valued at approximately $18,254,563.02. This represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. This trade represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock valued at $5,256,651 in the last ninety days. 18.10% of the stock is owned by company insiders.

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.