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

Vinva Investment Management Ltd cut its stake in Zscaler, Inc. (NASDAQ:ZS) by 41.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,614 shares of the company’s stock after selling 3,258 shares during the quarter. Vinva Investment Management Ltd’s holdings in Zscaler were worth $793,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Champlain Investment Partners LLC raised its position in shares of Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after buying an additional 283,540 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Zscaler by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after acquiring an additional 25,181 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Zscaler by 33.8% during 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. Federated Hermes Inc. grew its holdings in shares of Zscaler by 18.3% during the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after purchasing an additional 61,037 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Zscaler by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock valued at $60,696,000 after purchasing an additional 16,634 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ZS. Loop Capital decreased their price target on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Oppenheimer lowered their price target on Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Wells Fargo & Company cut their price objective on Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. UBS Group decreased their price objective on Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Finally, JMP Securities reiterated a “market outperform” rating and set a $270.00 price target on shares of Zscaler in a research report on Monday, November 4th. Ten research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and a consensus target price of $221.13.

Zscaler Price Performance

Shares of ZS stock opened at $206.59 on Friday. Zscaler, Inc. has a one year low of $153.45 and a one year high of $259.61. The company’s 50-day moving average is $190.12 and its 200 day moving average is $184.72.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.09. The company had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.17) earnings per share. Analysts predict that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Robert Schlossman sold 4,947 shares of the stock in a transaction 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 $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 is available through this link. Also, insider Michael J. Rich sold 4,813 shares of Zscaler stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the completion of the sale, the insider now directly owns 103,259 shares of the company’s stock, valued at $17,686,201.52. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is owned by insiders.

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.