Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Vinva Investment Management Ltd

Vinva Investment Management Ltd lowered its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 30.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,222 shares of the company's stock after selling 1,392 shares during the period. Vinva Investment Management Ltd's holdings in Zscaler were worth $590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Global X Japan Co. Ltd. grew its holdings in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Zscaler in the 4th quarter worth $29,000. Prestige Wealth Management Group LLC bought a new stake in shares of Zscaler in the 3rd quarter worth about $31,000. True Wealth Design LLC raised its position in shares of Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company's stock valued at $32,000 after buying an additional 185 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $32,000 after acquiring an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

Insider Transactions at Zscaler

In other Zscaler news, insider Robert Schlossman sold 2,878 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following the sale, the insider now owns 107,587 shares of the company's stock, valued at approximately $21,425,951.05. The trade was a 2.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the transaction, the insider now directly owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. This represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 199,234 shares of company stock valued at $39,970,790. Corporate insiders own 18.10% of the company's stock.

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Zscaler Stock Down 1.9 %

Shares of NASDAQ ZS traded down $4.18 during trading hours on Wednesday, hitting $211.55. 1,675,680 shares of the stock were exchanged, compared to its average volume of 1,864,937. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $217.84. The firm has a fifty day moving average price of $200.82 and a 200-day moving average price of $192.83. The company has a market cap of $32.73 billion, a PE ratio of -846.20 and a beta of 0.88.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ZS shares. The Goldman Sachs Group set a $207.00 price objective on Zscaler and gave the company a "neutral" rating in a research report on Thursday, March 6th. Mizuho increased their price target on Zscaler from $210.00 to $225.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. BTIG Research set a $252.00 price objective on shares of Zscaler and gave the stock a "buy" rating in a research note on Thursday, March 6th. Citigroup reissued a "buy" rating and issued a $240.00 target price (up previously from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada lifted their price target on shares of Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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.