IQ EQ FUND MANAGEMENT IRELAND Ltd Decreases Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its holdings in Zscaler, Inc. (NASDAQ:ZS) by 12.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. NEOS Investment Management LLC lifted its position in shares of Zscaler by 15.5% during the 4th quarter. NEOS Investment Management LLC now owns 9,209 shares of the company’s stock worth $1,661,000 after buying an additional 1,238 shares during the last quarter. Sava Infond d.o.o. purchased a new stake in Zscaler in the fourth quarter valued at $61,000. Artisan Partners Limited Partnership boosted its stake in Zscaler by 30.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock valued at $156,739,000 after acquiring an additional 204,996 shares in the last quarter. Korea Investment CORP grew its holdings in shares of Zscaler by 144.3% during the fourth quarter. Korea Investment CORP now owns 136,160 shares of the company’s stock worth $24,565,000 after purchasing an additional 80,416 shares during the last quarter. Finally, Arlington Capital Management Inc. acquired a new stake in shares of Zscaler during the fourth quarter worth about $2,107,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zscaler

In other news, CFO Remo Canessa sold 3,721 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 value of $741,037.15. Following the completion of the transaction, the chief financial officer now owns 213,702 shares of the company’s stock, valued at $42,558,753.30. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert Schlossman sold 2,878 shares of the company’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 transaction, the insider now directly owns 107,587 shares in the company, valued at $21,425,951.05. The trade was a 2.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 199,234 shares of company stock valued at $39,970,790. 18.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Scotiabank restated a “sector outperform” rating and set a $242.00 target price (up from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Sanford C. Bernstein restated an “outperform” rating and issued a $244.00 price objective on shares of Zscaler in a research note on Thursday, March 6th. The Goldman Sachs Group set a $207.00 target price on shares of Zscaler and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Canaccord Genuity Group boosted their price target on Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Loop Capital decreased their price objective on Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a research report on Tuesday, December 3rd. Nine 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $232.68.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $211.55 on Thursday. The firm’s 50-day moving average is $201.26 and its two-hundred day moving average is $192.96. The company has a market capitalization of $32.73 billion, a PE ratio of -846.20 and a beta of 0.88. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $217.84.

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.