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

Canada Pension Plan Investment Board lifted its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 105.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,167 shares of the company's stock after acquiring an additional 24,263 shares during the period. Canada Pension Plan Investment Board's holdings in Zscaler were worth $8,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Global X Japan Co. Ltd. grew its position in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Zscaler in the 4th quarter valued at $27,000. Stonebridge Financial Group LLC purchased a new position in shares of Zscaler during the 4th quarter worth $29,000. Versant Capital Management Inc boosted its position in shares of Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $32,000 after acquiring an additional 104 shares during the last quarter. Finally, Modus Advisors LLC purchased a new stake in shares of Zscaler in the fourth quarter valued at about $36,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Zscaler from $240.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. Wells Fargo & Company upped their target price on shares of Zscaler from $190.00 to $210.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 6th. Robert W. Baird boosted their price objective on Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Rosenblatt Securities reaffirmed a "buy" rating and set a $235.00 price objective on shares of Zscaler in a research report on Tuesday, April 15th. Finally, Morgan Stanley lowered their price target on Zscaler from $205.00 to $200.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $234.16.

Zscaler Trading Up 2.6 %

Shares of ZS stock traded up $5.44 during trading hours on Friday, hitting $215.58. The company's stock had a trading volume of 2,884,983 shares, compared to its average volume of 1,990,196. The business has a fifty day moving average of $199.30 and a 200-day moving average of $197.29. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $217.84. The stock has a market cap of $33.36 billion, a price-to-earnings ratio of -862.32 and a beta of 1.12.

Insider Activity at Zscaler

In other news, Director Andrew William Fraser Brown sold 10,000 shares of Zscaler stock in a transaction dated 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 sale, the director now directly owns 27,216 shares in the company, valued at $5,606,496. The trade was a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert Schlossman sold 2,878 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following the transaction, the insider now directly owns 107,587 shares in the company, valued at $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 90 days, insiders have sold 209,234 shares of company stock valued at $42,030,790. 18.10% of the stock is owned by corporate insiders.

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.