Zscaler, Inc. (NASDAQ:ZS) Position Reduced by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. cut its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,794 shares of the company’s stock after selling 114 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Zscaler were worth $1,767,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Prestige Wealth Management Group LLC purchased a new stake in shares of Zscaler in the third quarter worth approximately $31,000. True Wealth Design LLC increased its holdings in Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after buying an additional 185 shares during the last quarter. Versant Capital Management Inc increased its holdings in Zscaler by 136.8% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after buying an additional 104 shares during the last quarter. Modus Advisors LLC acquired a new position in Zscaler in the fourth quarter worth approximately $36,000. Finally, Crews Bank & Trust acquired a new position in Zscaler in the fourth quarter worth approximately $36,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Stock Performance

NASDAQ ZS opened at $204.23 on Friday. The stock’s 50 day moving average price is $194.22 and its two-hundred day moving average price is $188.15. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $259.61.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. During the same quarter in the prior year, the business posted ($0.18) EPS. The business’s revenue was up 26.4% compared to the same quarter last year. Analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Insider Transactions at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the transaction, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $737,578.24. Following the transaction, the insider now directly owns 142,866 shares in the company, valued at $28,618,917.12. The trade was a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,248 shares of company stock worth $2,052,879 in the last 90 days. Corporate insiders own 18.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ZS. Loop Capital dropped their price objective on Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a report on Tuesday, December 3rd. Morgan Stanley lowered their price target on Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 3rd. Scotiabank increased their price target on Zscaler from $205.00 to $225.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Stifel Nicolaus raised their price objective on shares of Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $240.00 price objective on shares of Zscaler in a research note on Friday, January 10th. Eleven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.47.

Zscaler 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.