National Pension Service Has $34.10 Million Holdings in Zscaler, Inc. (NASDAQ:ZS)

Key Points

• The National Pension Service has increased its holdings in Zscaler, Inc. by 11.2% during the first quarter, now owning approximately $34.1 million worth of shares.
• In its latest quarterly earnings report, Zscaler beat analysts' estimates by reporting $0.84 earnings per share and a revenue of $678.03 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Zscaler, with target prices ranging between $260.00 and $385.00.

National Pension Service grew its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 171,847 shares of the company's stock after buying an additional 17,342 shares during the quarter. National Pension Service owned approximately 0.11% of Zscaler worth $34,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Resona Asset Management Co. Ltd. grew its stake in shares of Zscaler by 12.4% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 30,787 shares of the company's stock valued at $6,149,000 after buying an additional 3,405 shares in the last quarter. Motley Fool Asset Management LLC grew its stake in shares of Zscaler by 4.1% in the 1st quarter. Motley Fool Asset Management LLC now owns 7,197 shares of the company's stock valued at $1,428,000 after buying an additional 286 shares in the last quarter. SouthState Corp grew its stake in shares of Zscaler by 24.7% in the 1st quarter. SouthState Corp now owns 34,602 shares of the company's stock valued at $6,866,000 after buying an additional 6,864 shares in the last quarter. Nuveen LLC bought a new stake in Zscaler during the first quarter worth approximately $153,340,000. Finally, Entropy Technologies LP bought a new stake in Zscaler during the first quarter worth approximately $689,000. Institutional investors own 46.45% of the company's stock.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $274.97 on Friday. The business's fifty day moving average price is $295.02 and its two-hundred day moving average price is $244.09. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $318.46. The stock has a market capitalization of $42.81 billion, a price-to-earnings ratio of -1,057.58, a price-to-earnings-growth ratio of 242.96 and a beta of 1.06.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ZS shares. BNP Paribas raised Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 target price for the company in a research report on Monday, April 28th. Wells Fargo & Company raised Zscaler from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $260.00 to $385.00 in a research report on Friday, June 13th. Evercore ISI upped their target price on Zscaler from $245.00 to $290.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Loop Capital upped their target price on Zscaler from $250.00 to $260.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Finally, FBN Securities upgraded Zscaler to a "strong-buy" rating in a report on Friday, May 30th. Seven analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $296.82.

Insider Activity at Zscaler

In other news, insider Syam Nair sold 4,064 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $1,234,236.80. Following the sale, the insider owned 106,659 shares in the company, valued at approximately $32,392,338.30. This represents a 3.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jagtar Singh Chaudhry sold 2,849 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total value of $865,241.30. Following the sale, the chief executive officer owned 353,565 shares in the company, valued at $107,377,690.50. The trade was a 0.80% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,256 shares of company stock valued at $50,618,544. 18.10% of the stock is currently owned by company insiders.

About Zscaler

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.

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