Zscaler, Inc. (NASDAQ:ZS) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its stake in Zscaler, Inc. (NASDAQ:ZS) by 105.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,167 shares of the company’s stock after buying an additional 24,263 shares during the period. Canada Pension Plan Investment Board’s holdings in Zscaler were worth $8,509,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ZS. Global X Japan Co. Ltd. grew its position in Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Zscaler in the fourth quarter valued at approximately $27,000. Stonebridge Financial Group LLC acquired a new position in shares of Zscaler in the fourth quarter valued at approximately $29,000. Versant Capital Management Inc increased its stake in Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after buying an additional 104 shares during the period. Finally, Modus Advisors LLC acquired a new stake in Zscaler during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Wall Street Analysts Forecast Growth

ZS has been the subject of several research reports. The Goldman Sachs Group set a $207.00 price target on shares of Zscaler and gave the stock a “neutral” rating in a research note on Thursday, March 6th. UBS Group upped their price target on Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Bank of America upgraded Zscaler from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $240.00 in a research note on Friday, March 7th. Scotiabank restated a “sector outperform” rating and set a $242.00 target price (up from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Finally, Mizuho lifted their price target on shares of Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Eight investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $234.77.

Insider Buying and Selling at Zscaler

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. This represents a 6.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Andrew William Fraser Brown sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the completion of the sale, the director now directly owns 27,216 shares in the company, valued at approximately $5,606,496. The trade was a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,234 shares of company stock worth $42,030,790. 18.10% of the stock is owned by insiders.

Zscaler Price Performance

ZS stock opened at $193.70 on Tuesday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $217.84. The firm has a market capitalization of $29.97 billion, a PE ratio of -774.80 and a beta of 1.12. The company’s 50 day simple moving average is $199.99 and its 200-day simple moving average is $196.74.

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.