Ilmarinen Mutual Pension Insurance Co Grows Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Ilmarinen Mutual Pension Insurance Co increased its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 71.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,000 shares of the company's stock after purchasing an additional 25,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Zscaler were worth $10,825,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ZS. The Manufacturers Life Insurance Company lifted its position in shares of Zscaler by 9.1% during the third quarter. The Manufacturers Life Insurance Company now owns 6,969 shares of the company's stock worth $1,191,000 after acquiring an additional 581 shares in the last quarter. Captrust Financial Advisors boosted its stake in Zscaler by 11.2% in the 3rd quarter. Captrust Financial Advisors now owns 5,024 shares of the company's stock worth $859,000 after purchasing an additional 504 shares during the period. Benjamin Edwards Inc. purchased a new position in Zscaler during the 3rd quarter valued at about $449,000. HighTower Advisors LLC increased its position in shares of Zscaler by 4.1% during the third quarter. HighTower Advisors LLC now owns 64,574 shares of the company's stock valued at $11,064,000 after buying an additional 2,520 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Zscaler by 9.0% in the third quarter. Janus Henderson Group PLC now owns 9,444 shares of the company's stock worth $1,614,000 after buying an additional 782 shares in the last quarter. 46.45% of the stock is owned by institutional investors.

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Insider Buying and Selling

In related news, Director Andrew William Fraser Brown sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the completion of the transaction, the director now directly owns 27,216 shares of the company's stock, valued at approximately $5,606,496. This trade represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert Schlossman sold 2,878 shares of the business's stock in a transaction 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 completion of the sale, the insider now owns 107,587 shares in the company, valued at approximately $21,425,951.05. The trade was a 2.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,234 shares of company stock valued at $42,030,790. 18.10% of the stock is owned by company insiders.

Zscaler Trading Up 0.0 %

ZS stock traded up $0.08 during midday trading on Friday, reaching $195.44. 693,620 shares of the company's stock traded hands, compared to its average volume of 1,966,454. The stock's 50-day moving average is $201.00 and its 200 day moving average is $195.13. The stock has a market cap of $30.24 billion, a P/E ratio of -781.77 and a beta of 1.12. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $217.84.

Analyst Ratings Changes

Several research firms have weighed in on ZS. Cantor Fitzgerald raised Zscaler from a "neutral" rating to an "overweight" rating and raised their price target for the company from $220.00 to $250.00 in a report on Thursday, April 3rd. Wedbush lifted their target price on shares of Zscaler from $230.00 to $240.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Robert W. Baird increased their price target on shares of Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Morgan Stanley initiated coverage on shares of Zscaler in a report on Tuesday, March 18th. They set an "equal weight" rating for the company. Finally, JPMorgan Chase & Co. raised their price target on Zscaler from $240.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $234.94.

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.