Korea Investment CORP Has $24.57 Million Stake in Zscaler, Inc. (NASDAQ:ZS)

Korea Investment CORP boosted its holdings in Zscaler, Inc. (NASDAQ:ZS) by 144.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 136,160 shares of the company’s stock after buying an additional 80,416 shares during the period. Korea Investment CORP’s holdings in Zscaler were worth $24,565,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ZS. Geode Capital Management LLC boosted its holdings in Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after buying an additional 60,414 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Zscaler by 3.2% during the 4th quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company’s stock worth $97,261,000 after acquiring an additional 16,742 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Zscaler by 11.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after purchasing an additional 37,801 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Zscaler by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 377,725 shares of the company’s stock valued at $68,145,000 after purchasing an additional 22,655 shares in the last quarter. Finally, LBP AM SA raised its holdings in Zscaler by 14.7% in the fourth quarter. LBP AM SA now owns 366,978 shares of the company’s stock worth $66,207,000 after purchasing an additional 47,041 shares during the period. 46.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ZS has been the subject of a number of recent analyst reports. BTIG Research set a $252.00 price objective on shares of Zscaler and gave the company a “buy” rating in a research report on Thursday, March 6th. BMO Capital Markets increased their price target on Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. lifted their price objective on Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Barclays reissued an “overweight” rating on shares of Zscaler in a research note on Wednesday, March 5th. Finally, Morgan Stanley began coverage on shares of Zscaler in a research note on Tuesday, March 18th. They issued an “equal weight” rating on the stock. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $232.68.

Zscaler Price Performance

Shares of ZS opened at $207.14 on Friday. The company has a market cap of $32.05 billion, a PE ratio of -828.56 and a beta of 0.88. The firm has a 50-day moving average of $202.08 and a 200-day moving average of $193.41. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84.

Insider Buying and Selling

In related news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the sale, the insider now owns 2,580,210 shares of the company’s stock, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert Schlossman sold 2,878 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $573,153.70. Following the sale, the insider now owns 107,587 shares of the company’s stock, valued at $21,425,951.05. This trade represents a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 199,234 shares of company stock worth $39,970,790. Company insiders own 18.10% of the company’s stock.

Zscaler Company 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.