Korea Investment CORP Makes New $5.73 Million Investment in Zscaler, Inc. $ZS

Korea Investment CORP purchased a new stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 40,574 shares of the company's stock, valued at approximately $5,727,000.

A number of other institutional investors have also modified their holdings of ZS. Rakuten Securities Inc. acquired a new stake in Zscaler in the second quarter worth about $334,000. Green Alpha Advisors LLC acquired a new position in shares of Zscaler during the second quarter valued at about $398,000. Allworth Financial LP purchased a new position in shares of Zscaler in the 2nd quarter valued at approximately $505,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in Zscaler in the 2nd quarter worth approximately $855,000. Finally, Vise Technologies Inc. acquired a new stake in Zscaler in the 2nd quarter worth approximately $560,000. 46.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ZS has been the topic of a number of research analyst reports. The Goldman Sachs Group reissued a "neutral" rating and set a $179.00 price objective on shares of Zscaler in a report on Wednesday, May 27th. Needham & Company LLC restated a "buy" rating and issued a $180.00 target price on shares of Zscaler in a research note on Wednesday, June 10th. Rosenblatt Securities reaffirmed a "buy" rating and set a $200.00 price target on shares of Zscaler in a research report on Wednesday, June 10th. Zacks Research upgraded Zscaler from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. reduced their price objective on Zscaler from $250.00 to $205.00 and set an "overweight" rating for the company in a research note on Wednesday, May 27th. Thirty-four 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.36.

Zscaler Price Performance

NASDAQ:ZS opened at $176.06 on Tuesday. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.72. Zscaler, Inc. has a 12 month low of $114.63 and a 12 month high of $336.99. The firm has a market cap of $28.47 billion, a P/E ratio of -366.78, a price-to-earnings-growth ratio of 106.97 and a beta of 0.94. The stock has a 50 day moving average of $152.01 and a two-hundred day moving average of $150.11.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.07. The company had revenue of $850.48 million during the quarter, compared to analysts' expectations of $835.14 million. Zscaler had a negative net margin of 2.44% and a negative return on equity of 0.37%. Zscaler's revenue was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.84 EPS. On average, analysts expect that Zscaler, Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Adam Geller sold 2,817 shares of the firm's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $122.60, for a total transaction of $345,364.20. Following the completion of the sale, the insider owned 42,314 shares in the company, valued at $5,187,696.40. This trade represents a 6.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin Rubin sold 3,000 shares of the firm's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $124.22, for a total value of $372,660.00. Following the sale, the chief financial officer directly owned 41,901 shares of the company's stock, valued at approximately $5,204,942.22. This trade represents a 6.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 16,269 shares of company stock valued at $2,052,589 over the last three months. 17.20% of the stock is currently owned by company insiders.

Zscaler 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.

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