Korea Investment CORP Acquires New Stake in Zscaler, Inc. $ZS

Korea Investment CORP bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 40,574 shares of the company’s stock, valued at approximately $5,727,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Handelsbanken Fonder AB raised its position in Zscaler by 89.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 60,933 shares of the company’s stock valued at $8,601,000 after purchasing an additional 28,792 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Zscaler by 6.6% during the second quarter. Assenagon Asset Management S.A. now owns 193,297 shares of the company’s stock worth $27,284,000 after buying an additional 11,941 shares in the last quarter. Oxbow Advisors LLC purchased a new stake in shares of Zscaler during the fourth quarter worth approximately $2,939,000. Qsemble Capital Management LP increased its stake in shares of Zscaler by 105.5% during the fourth quarter. Qsemble Capital Management LP now owns 15,773 shares of the company’s stock worth $3,548,000 after buying an additional 8,099 shares during the period. Finally, Bank of America Corp DE raised its holdings in Zscaler by 44.3% in the first quarter. Bank of America Corp DE now owns 779,245 shares of the company’s stock valued at $109,320,000 after acquiring an additional 239,326 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Zscaler

In other Zscaler news, insider Adam Geller sold 2,817 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $122.60, for a total transaction of $345,364.20. Following the sale, the insider directly owned 42,314 shares in the company, valued at approximately $5,187,696.40. The trade was a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jagtar Singh Chaudhry sold 2,878 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $126.43, for a total value of $363,865.54. Following the sale, the chief executive officer owned 343,038 shares in the company, valued at approximately $43,370,294.34. The trade was a 0.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 16,269 shares of company stock worth $2,052,589. 17.20% of the stock is currently owned by insiders.

Zscaler Trading Down 3.1%

Shares of ZS opened at $176.06 on Tuesday. Zscaler, Inc. has a twelve month low of $114.63 and a twelve month high of $336.99. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $28.47 billion, a P/E ratio of -366.78, a PEG ratio of 106.97 and a beta of 0.94. The firm’s 50-day moving average is $152.01 and its two-hundred day moving average is $150.11.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, May 26th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. The company had revenue of $850.48 million during the quarter, compared to the consensus estimate of $835.14 million. Zscaler had a negative net margin of 2.44% and a negative return on equity of 0.37%. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period last year, the firm earned $0.84 EPS. On average, research analysts predict that Zscaler, Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ZS. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $179.00 price objective on shares of Zscaler in a research report on Wednesday, May 27th. Guggenheim restated a “buy” rating and issued a $214.00 price target on shares of Zscaler in a research note on Monday. Piper Sandler decreased their price target on Zscaler from $185.00 to $160.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Berenberg Bank set a $200.00 price target on Zscaler in a report on Thursday, May 28th. Finally, Stifel Nicolaus upped their price objective on Zscaler from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Thirty-four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $215.36.

Zscaler Company Profile

Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.

Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.