IFM Investors Pty Ltd Reduces Holdings in Zscaler, Inc. (NASDAQ:ZS)

IFM Investors Pty Ltd lessened its holdings in Zscaler, Inc. (NASDAQ:ZS) by 1.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,728 shares of the company’s stock after selling 266 shares during the period. IFM Investors Pty Ltd’s holdings in Zscaler were worth $3,800,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. 1832 Asset Management L.P. purchased a new stake in Zscaler during the 4th quarter worth about $217,683,000. Norges Bank purchased a new stake in shares of Zscaler during the fourth quarter worth about $117,599,000. Polar Capital Holdings Plc acquired a new position in shares of Zscaler in the third quarter valued at approximately $61,681,000. Trivest Advisors Ltd purchased a new position in shares of Zscaler during the fourth quarter valued at approximately $72,051,000. Finally, International Assets Investment Management LLC boosted its position in Zscaler by 19,012.4% during the fourth quarter. International Assets Investment Management LLC now owns 223,997 shares of the company’s stock worth $49,629,000 after acquiring an additional 222,825 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Sanford C. Bernstein cut their price target on Zscaler from $311.00 to $280.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Cantor Fitzgerald reiterated a “neutral” rating and set a $230.00 target price on shares of Zscaler in a research report on Wednesday, April 17th. Truist Financial restated a “buy” rating and issued a $260.00 price target on shares of Zscaler in a report on Monday, April 1st. JMP Securities reaffirmed a “market outperform” rating and set a $270.00 price objective on shares of Zscaler in a research note on Friday, March 1st. Finally, Needham & Company LLC reissued a “strong-buy” rating and issued a $290.00 target price on shares of Zscaler in a research report on Friday, March 1st. Five investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and an average target price of $230.24.

Insider Buying and Selling

In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $408,512.25. Following the sale, the chief executive officer now owns 367,152 shares in the company, valued at approximately $70,915,408.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Zscaler news, insider Syam Nair sold 2,893 shares of Zscaler stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $558,782.95. Following the completion of the transaction, the insider now owns 137,294 shares of the company’s stock, valued at $26,518,336.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $408,512.25. Following 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 quarter, insiders sold 26,715 shares of company stock worth $5,865,882. Insiders own 19.20% of the company’s stock.

Zscaler Stock Up 1.3 %

Shares of Zscaler stock traded up $2.24 during trading hours on Friday, hitting $177.05. 1,341,755 shares of the company’s stock traded hands, compared to its average volume of 1,530,924. Zscaler, Inc. has a twelve month low of $84.93 and a twelve month high of $259.61. The company has a market cap of $26.54 billion, a PE ratio of -186.37 and a beta of 0.80. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. The stock has a 50 day simple moving average of $198.51 and a 200-day simple moving average of $203.25.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $507.56 million. Equities research analysts anticipate that Zscaler, Inc. will post -0.8 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.