Migdal Insurance & Financial Holdings Ltd. Sells 2,549 Shares of Zscaler, Inc. (NASDAQ:ZS)

Migdal Insurance & Financial Holdings Ltd. trimmed its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 17.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,401 shares of the company’s stock after selling 2,549 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Zscaler were worth $2,783,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in shares of Zscaler in the 1st quarter worth $168,365,000. Norges Bank bought a new position in shares of Zscaler in the 4th quarter worth $59,634,000. Polar Capital Holdings Plc bought a new position in shares of Zscaler in the 3rd quarter worth $61,681,000. Whale Rock Capital Management LLC lifted its holdings in shares of Zscaler by 71.4% in the 2nd quarter. Whale Rock Capital Management LLC now owns 776,972 shares of the company’s stock worth $113,671,000 after purchasing an additional 323,719 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Zscaler by 19,012.4% in the 4th quarter. International Assets Investment Management LLC now owns 223,997 shares of the company’s stock worth $49,629,000 after purchasing an additional 222,825 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ZS shares. JMP Securities restated a “market outperform” rating and set a $270.00 price objective on shares of Zscaler in a research note on Friday, March 1st. Cantor Fitzgerald restated a “neutral” rating and set a $230.00 price objective on shares of Zscaler in a research note on Wednesday, March 27th. Truist Financial restated a “buy” rating and set a $260.00 price objective on shares of Zscaler in a research note on Monday, April 1st. Wedbush raised their price objective on Zscaler from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Finally, Robert W. Baird raised their target price on Zscaler from $255.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Six equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Zscaler currently has a consensus rating of “Moderate Buy” and an average target price of $230.55.

Zscaler Trading Up 0.2 %

Zscaler stock traded up $0.40 during trading hours on Wednesday, reaching $174.72. The company had a trading volume of 768,121 shares, compared to its average volume of 2,270,768. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.98 and a quick ratio of 1.98. The company has a 50-day moving average price of $210.76 and a 200 day moving average price of $203.02. The firm has a market cap of $26.18 billion, a price-to-earnings ratio of -183.38 and a beta of 0.80. Zscaler, Inc. has a 12-month low of $84.93 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS) last posted its earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.08. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. The firm had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $507.56 million. Equities analysts forecast that Zscaler, Inc. will post -0.81 earnings per share for the current year.

Insider Activity

In related news, Director Karen Blasing sold 7,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $250.90, for a total value of $1,756,300.00. Following the sale, the director now directly owns 40,372 shares of the company’s stock, valued at $10,129,334.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Zscaler news, Director Karen Blasing sold 7,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $250.90, for a total value of $1,756,300.00. Following the sale, the director now directly owns 40,372 shares of the company’s stock, valued at $10,129,334.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the completion of the sale, the chief executive officer now directly owns 367,152 shares in the company, valued at $70,915,408.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,715 shares of company stock valued at $5,865,882. Company insiders own 19.20% of the company’s stock.

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.