IQ EQ FUND MANAGEMENT IRELAND Ltd Reduces Stake in Zscaler, Inc. (NASDAQ:ZS)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 12.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,371 shares of the company's stock after selling 3,756 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Zscaler were worth $4,758,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ZS. PNC Financial Services Group Inc. boosted its holdings in shares of Zscaler by 4.4% during the third quarter. PNC Financial Services Group Inc. now owns 7,184 shares of the company's stock worth $1,228,000 after acquiring an additional 306 shares during the period. Commerce Bank raised its stake in Zscaler by 8.9% in the third quarter. Commerce Bank now owns 1,564 shares of the company's stock valued at $267,000 after purchasing an additional 128 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Zscaler by 50.1% during the third quarter. Advisors Asset Management Inc. now owns 4,082 shares of the company's stock worth $698,000 after purchasing an additional 1,363 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Zscaler by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company's stock valued at $60,696,000 after buying an additional 16,634 shares during the period. Finally, Cerity Partners LLC raised its position in shares of Zscaler by 73.5% in the 3rd quarter. Cerity Partners LLC now owns 10,562 shares of the company's stock valued at $1,806,000 after buying an additional 4,476 shares in the last quarter. Institutional investors own 46.45% of the company's stock.

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Zscaler Trading Down 1.1 %

NASDAQ ZS traded down $2.31 during trading hours on Friday, hitting $207.14. The company's stock had a trading volume of 2,427,477 shares, compared to its average volume of 1,897,022. The company has a market capitalization of $32.05 billion, a PE ratio of -828.56 and a beta of 0.88. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84. The company's 50-day simple moving average is $202.08 and its two-hundred day simple moving average is $193.67.

Insider Transactions at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the transaction, the chief executive officer now directly owns 356,414 shares in the company, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction dated 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 owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 199,234 shares of company stock valued at $39,970,790 over the last ninety days. 18.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ZS shares. Wells Fargo & Company lifted their price objective on shares of Zscaler from $190.00 to $210.00 and gave the company an "equal weight" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. lifted their price target on Zscaler from $240.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. KeyCorp upped their price objective on Zscaler from $245.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Susquehanna lifted their target price on Zscaler from $210.00 to $225.00 and gave the company a "positive" rating in a research report on Tuesday, December 3rd. Finally, Sanford C. Bernstein reissued an "outperform" rating and issued a $244.00 target price on shares of Zscaler in a report on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.