iA Global Asset Management Inc. Boosts Stake in Zscaler, Inc. (NASDAQ:ZS)

iA Global Asset Management Inc. increased its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 7.3% in the 4th quarter, Holdings Channel reports. The firm owned 16,537 shares of the company’s stock after purchasing an additional 1,129 shares during the period. iA Global Asset Management Inc.’s holdings in Zscaler were worth $2,983,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ZS. Champlain Investment Partners LLC raised its position in shares of Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after purchasing an additional 283,540 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Zscaler during the 4th quarter worth about $28,072,000. Trivest Advisors Ltd raised its position in shares of Zscaler by 95.3% during the 4th quarter. Trivest Advisors Ltd now owns 250,000 shares of the company’s stock worth $45,102,000 after purchasing an additional 122,000 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in Zscaler by 33.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after acquiring an additional 100,814 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Zscaler by 59.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company’s stock valued at $34,421,000 after acquiring an additional 71,297 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insider Buying and Selling at Zscaler

In other news, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the sale, the chief executive officer now owns 356,414 shares in the company, valued at $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 199,234 shares of company stock valued at $39,970,790 in the last 90 days. Company insiders own 18.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ZS has been the subject of a number of recent research reports. UBS Group increased their price objective on shares of Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Mizuho increased 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 reiterated an “overweight” rating on shares of Zscaler in a report on Wednesday, March 5th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $244.00 price objective 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $232.68.

Zscaler Stock Down 0.2 %

Shares of ZS stock opened at $203.55 on Friday. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84. The stock has a market capitalization of $31.49 billion, a PE ratio of -814.20 and a beta of 0.88. The firm has a 50 day moving average of $199.43 and a two-hundred day moving average of $191.81.

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.