Migdal Insurance & Financial Holdings Ltd. Boosts Stake in Zscaler, Inc. (NASDAQ:ZS)

Migdal Insurance & Financial Holdings Ltd. grew its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 10.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,864 shares of the company's stock after buying an additional 1,070 shares during the period. Migdal Insurance & Financial Holdings Ltd.'s holdings in Zscaler were worth $2,156,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in Zscaler by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock worth $298,710,000 after purchasing an additional 32,545 shares during the period. Pictet Asset Management Holding SA increased its holdings in shares of Zscaler by 25.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after buying an additional 332,307 shares during the period. AQR Capital Management LLC lifted its stake in shares of Zscaler by 120.1% in the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock valued at $173,921,000 after acquiring an additional 525,956 shares during the last quarter. Artisan Partners Limited Partnership lifted its position 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 purchasing an additional 204,996 shares during the last quarter. Finally, DnB Asset Management AS boosted its stake in shares of Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock valued at $120,403,000 after purchasing an additional 267,162 shares during the period. Institutional investors own 46.45% of the company's stock.

Insider Activity

In related news, insider Syam Nair sold 4,064 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total value of $1,234,236.80. Following the sale, the insider directly owned 106,659 shares in the company, valued at approximately $32,392,338.30. The trade was a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Adam Geller sold 3,662 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the completion of the sale, the insider owned 46,813 shares in the company, valued at $14,358,483.36. This represents a 7.26% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 200,793 shares of company stock valued at $58,752,794. Company insiders own 18.10% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ZS shares. Jefferies Financial Group cut their price target on shares of Zscaler from $245.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, March 31st. UBS Group lifted their price objective on Zscaler from $315.00 to $365.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. BNP Paribas upgraded Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 target price for the company in a report on Monday, April 28th. BTIG Research reaffirmed a "buy" rating on shares of Zscaler in a research note on Thursday, July 10th. Finally, Piper Sandler reissued a "neutral" rating and set a $260.00 price objective (up from $235.00) on shares of Zscaler in a research report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $296.82.

Zscaler Stock Performance

Shares of NASDAQ ZS traded up $2.43 during midday trading on Friday, hitting $288.72. 1,819,101 shares of the stock traded hands, compared to its average volume of 2,069,252. The firm has a market capitalization of $44.95 billion, a P/E ratio of -1,110.46 and a beta of 1.11. Zscaler, Inc. has a one year low of $153.45 and a one year high of $318.46. The firm has a 50-day moving average of $287.76 and a two-hundred day moving average of $231.30.

Zscaler (NASDAQ:ZS - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.08. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The company had revenue of $678.03 million for the quarter, compared to analysts' expectations of $667.13 million. During the same quarter last year, the business earned $0.88 EPS. The firm's revenue was up 22.6% compared to the same quarter last year. Equities analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

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.