Mirae Asset Global Investments Co. Ltd. Makes New Investment in Zscaler, Inc. $ZS

Key Points

• Mirae Asset Global Investments opened a position in Zscaler during the third quarter, buying 72,042 shares valued at approximately $14.4 million. Institutional investors own 46.45% of the company.
• Analyst sentiment is broadly positive: 36 analysts rate Zscaler a Buy, eight a Hold, and one a Sell; the average price target is $236.65.
• Zscaler’s latest reported quarterly results beat expectations, with earnings of $1.19 per share and revenue of $898.2 million, up 24.9% year over year. Insiders, meanwhile, sold 55,105 shares worth about $11.6 million in the last quarter.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 72,042 shares of the company's stock, valued at approximately $14,367,000.

A number of other hedge funds have also added to or reduced their stakes in ZS. ProShare Advisors LLC grew its holdings in shares of Zscaler by 16.4% in the 3rd quarter. ProShare Advisors LLC now owns 6,980 shares of the company's stock valued at $1,392,000 after acquiring an additional 984 shares in the last quarter. Vise Technologies Inc. raised its holdings in Zscaler by 64.3% during the third quarter. Vise Technologies Inc. now owns 6,513 shares of the company's stock worth $1,299,000 after acquiring an additional 2,548 shares in the last quarter. Americana Partners LLC acquired a new position in Zscaler during the third quarter valued at approximately $425,000. Heritage Wealth Management Inc. acquired a new position in Zscaler during the third quarter valued at approximately $239,000. Finally, International Assets Investment Management LLC boosted its position in Zscaler by 23,646.1% during the third quarter. International Assets Investment Management LLC now owns 606,000 shares of the company's stock valued at $120,849,000 after purchasing an additional 603,448 shares during the last quarter. Institutional investors own 46.45% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ZS. Scotiabank boosted their price target on Zscaler from $240.00 to $255.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, October 7th. TD Cowen raised their target price on shares of Zscaler from $200.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, October 7th. Citizens Jmp boosted their target price on shares of Zscaler from $210.00 to $265.00 and gave the stock a "market outperform" rating in a report on Friday, October 9th. BTIG Research reaffirmed a "neutral" rating on shares of Zscaler in a research report on Wednesday, October 7th. Finally, Piper Sandler upped their target price on shares of Zscaler from $160.00 to $175.00 and gave the company a "neutral" rating in a report on Friday, September 4th. Thirty-six analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Zscaler currently has an average rating of "Moderate Buy" and an average target price of $236.65.

Zscaler Price Performance

NASDAQ:ZS opened at $225.09 on Wednesday. Zscaler, Inc. has a one year low of $114.63 and a one year high of $335.70. The company has a market cap of $36.70 billion, a P/E ratio of -577.15, a P/E/G ratio of 21.28 and a beta of 0.82. The firm's fifty day moving average price is $206.02 and its two-hundred day moving average price is $167.70. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.70 and a quick ratio of 1.70.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.10. The company had revenue of $898.19 million for the quarter, compared to analyst estimates of $876.96 million. Zscaler had a negative net margin of 1.88% and a positive return on equity of 1.23%. The company's revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 earnings per share. Zscaler has set its FY 2027 guidance at 4.860-4.900 EPS and its Q1 2027 guidance at 1.150-1.160 EPS. Equities analysts expect that Zscaler, Inc. will post 0.70 earnings per share for the current year.

Insider Activity at Zscaler

In other Zscaler news, insider Robert Schlossman sold 5,394 shares of the firm's stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $200.00, for a total transaction of $1,078,800.00. Following the completion of the sale, the insider directly owned 61,525 shares in the company, valued at $12,305,000. This trade represents a 8.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Adam Geller sold 23,958 shares of the business's stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $225.43, for a total value of $5,400,851.94. Following the sale, the insider owned 38,308 shares of the company's stock, valued at approximately $8,635,772.44. This represents a 38.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 55,105 shares of company stock worth $11,563,836 in the last quarter. Corporate insiders own 17.20% of the company's stock.

Zscaler Company Profile

Zscaler, Inc is a cloud-based cybersecurity company that helps organizations secure access to applications, websites, data and other digital resources. Its platform is designed around a zero-trust security model, which verifies users and devices and enforces security policies before granting access, rather than relying primarily on a traditional corporate network perimeter.

The company's offerings include Zscaler Internet Access, which provides secure access to internet and software-as-a-service applications, and Zscaler Private Access, which enables secure access to private applications without extending an organization's network to users.

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