Daiichi Life Insurance Co. Ltd. Acquires Shares of 4,700 Zscaler, Inc. $ZS

Daiichi Life Insurance Co. Ltd. acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS) during the 2nd quarter, Holdings Channel reports. The firm acquired 4,700 shares of the company’s stock, valued at approximately $663,000.

A number of other institutional investors also recently made changes to their positions in the business. Binnacle Investments Inc purchased a new position in shares of Zscaler during the 3rd quarter valued at approximately $25,000. AlphaCentric Advisors LLC acquired a new position in Zscaler during the 4th quarter worth $29,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Zscaler in the 4th quarter worth about $30,000. Mcguire Capital Advisors Inc. bought a new stake in shares of Zscaler in the 4th quarter worth about $32,000. Finally, Western Wealth Management LLC acquired a new stake in shares of Zscaler in the 1st quarter valued at about $33,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Stock Down 3.1%

ZS stock opened at $176.06 on Tuesday. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.72. Zscaler, Inc. has a fifty-two week low of $114.63 and a fifty-two week high of $336.99. The firm’s 50-day simple moving average is $152.01 and its 200 day simple moving average is $150.11. The stock has a market cap of $28.47 billion, a PE ratio of -366.78, a price-to-earnings-growth ratio of 106.97 and a beta of 0.94.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, May 26th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.07. The firm had revenue of $850.48 million for the quarter, compared to the consensus estimate of $835.14 million. Zscaler had a negative net margin of 2.44% and a negative return on equity of 0.37%. Zscaler’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period last year, the firm posted $0.84 EPS. As a group, sell-side analysts predict that Zscaler, Inc. will post 0.13 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on ZS shares. Wolfe Research reaffirmed an “outperform” rating and set a $150.00 price target on shares of Zscaler in a research report on Thursday, June 11th. Berenberg Bank set a $200.00 target price on Zscaler in a research report on Thursday, May 28th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $179.00 price target on shares of Zscaler in a report on Wednesday, May 27th. Mizuho upped their price target on Zscaler from $185.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Finally, Evercore set a $155.00 price objective on Zscaler and gave the stock an “in-line” rating in a research note on Wednesday, May 27th. Thirty-four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $215.36.

Insider Activity

In other Zscaler news, insider Robert Schlossman sold 3,146 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $126.43, for a total value of $397,748.78. Following the sale, the insider owned 69,366 shares in the company, valued at approximately $8,769,943.38. This trade represents a 4.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevin Rubin sold 3,000 shares of Zscaler stock in a transaction that occurred on Thursday, June 25th. The shares were 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 in the company, valued at approximately $5,204,942.22. This trade represents a 6.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 16,269 shares of company stock worth $2,052,589 in the last quarter. Company insiders own 17.20% of the company’s stock.

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.