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

Vinva Investment Management Ltd decreased its holdings in Zscaler, Inc. (NASDAQ:ZS) by 30.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm 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 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ZS. Geode Capital Management LLC increased its stake in Zscaler by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after buying an additional 60,414 shares during the period. Champlain Investment Partners LLC increased its position in shares of Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after acquiring an additional 283,540 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Zscaler by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company’s stock worth $97,261,000 after acquiring an additional 16,742 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake 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 acquiring an additional 100,814 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of Zscaler by 11.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after acquiring an additional 37,801 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Price Performance

Shares of ZS stock opened at $205.20 on Friday. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84. The firm has a market capitalization of $31.75 billion, a price-to-earnings ratio of -820.80 and a beta of 0.88. The business has a 50 day simple moving average of $199.74 and a 200 day simple moving average of $191.84.

Analyst Ratings Changes

Several research firms recently commented on ZS. Piper Sandler boosted their price target on Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Loop Capital cut their price target on Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research note on Tuesday, December 3rd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $244.00 price target on shares of Zscaler in a research note on Thursday, March 6th. Deutsche Bank Aktiengesellschaft boosted their price target on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, UBS Group upped their price objective on Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and an average price target of $232.68.

Insider Buying and Selling

In other Zscaler news, insider Robert Schlossman sold 2,878 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the completion of the transaction, the insider now directly owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. This trade represents a 2.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the transaction, the chief executive officer now directly owns 356,414 shares of the company’s stock, valued at approximately $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 three months. 18.10% of the stock is currently owned by corporate 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.