Korea Investment CORP Has $25.16 Million Stock Holdings in Zscaler, Inc. $ZS

Key Points

• Korea Investment CORP reduced its stake in Zscaler, Inc. by 6.9%, selling 9,359 shares to end up with a total of 126,801 shares valued at approximately $25.16 million.
• Analysts have raised their price targets for Zscaler, with projections reaching as high as $360, reflecting strong interest with 28 Buy ratings and an average price target of $296.82.
• Insiders sold 168,256 shares of Zscaler in the last 90 days, highlighting notable insider activity amidst a current market cap of $42.81 billion and a share price last opened at $274.92.

Korea Investment CORP cut its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 6.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,801 shares of the company's stock after selling 9,359 shares during the period. Korea Investment CORP owned approximately 0.08% of Zscaler worth $25,160,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of Zscaler by 43.1% during the 1st quarter. GAMMA Investing LLC now owns 641 shares of the company's stock worth $127,000 after buying an additional 193 shares during the period. Allworth Financial LP grew its position in shares of Zscaler by 47.4% during the 1st quarter. Allworth Financial LP now owns 1,002 shares of the company's stock worth $211,000 after buying an additional 322 shares during the period. Krane Funds Advisors LLC grew its holdings in Zscaler by 36.4% during the first quarter. Krane Funds Advisors LLC now owns 1,667 shares of the company's stock valued at $331,000 after purchasing an additional 445 shares during the period. Merit Financial Group LLC grew its holdings in Zscaler by 42.0% during the first quarter. Merit Financial Group LLC now owns 6,197 shares of the company's stock valued at $1,230,000 after purchasing an additional 1,832 shares during the period. Finally, National Pension Service grew its holdings in Zscaler by 11.2% during the first quarter. National Pension Service now owns 171,847 shares of the company's stock valued at $34,098,000 after purchasing an additional 17,342 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Bank of America boosted their price objective on shares of Zscaler from $285.00 to $340.00 and gave the company a "buy" rating in a report on Monday, June 9th. Wedbush boosted their target price on Zscaler from $240.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Wells Fargo & Company raised Zscaler from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $260.00 to $385.00 in a research note on Friday, June 13th. Robert W. Baird boosted their target price on Zscaler from $295.00 to $315.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Finally, Susquehanna boosted their price objective on Zscaler from $245.00 to $320.00 and gave the company a "positive" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Zscaler currently has a consensus rating of "Moderate Buy" and an average target price of $296.82.

Zscaler Trading Up 0.8%

Shares of Zscaler stock traded up $2.17 during trading hours on Friday, reaching $272.52. 882,582 shares of the company's stock were exchanged, compared to its average volume of 1,444,461. The company has a 50 day moving average of $292.37 and a two-hundred day moving average of $246.55. 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 cap of $42.43 billion, a P/E ratio of -1,048.15, a P/E/G ratio of 288.37 and a beta of 1.06.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.08. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The company had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. During the same period in the prior year, the business posted $0.88 EPS. The company's quarterly revenue was up 22.6% on a year-over-year basis. Zscaler has set its FY 2025 guidance at 3.180-3.19 EPS. Q4 2025 guidance at EPS. As a group, analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Robert Schlossman sold 4,618 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $300.00, for a total value of $1,385,400.00. Following the completion of the sale, the insider owned 95,612 shares of the company's stock, valued at approximately $28,683,600. This represents a 4.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Ajay Mangal sold 120,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $300.89, for a total value of $36,106,800.00. Following the completion of the sale, the insider directly owned 2,550,210 shares of the company's stock, valued at approximately $767,332,686.90. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,256 shares of company stock valued at $50,618,544. Corporate insiders own 18.10% of the company's stock.

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.