Healthcare of Ontario Pension Plan Trust Fund Has $40.22 Million Stake in Zscaler, Inc. $ZS

Key Points

• Healthcare of Ontario Pension Plan Trust Fund boosted its Zscaler stake by 299.6% in the fourth quarter, ending with 178,836 shares valued at about $40.2 million.
• Zscaler continues to draw attention from analysts and large investors, with several firms reiterating positive ratings and the stock carrying a Moderate Buy consensus and a $214.33 average price target.
• The company reported strong quarterly results with revenue up 25.4% year over year and earnings topping estimates, but shares remain pressured by a 52-week low trading range and concerns about slower growth guidance.

Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 299.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 178,836 shares of the company's stock after purchasing an additional 134,082 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.11% of Zscaler worth $40,224,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Landscape Capital Management L.L.C. acquired a new position in shares of Zscaler during the fourth quarter worth approximately $1,979,000. Eventide Asset Management LLC lifted its position in shares of Zscaler by 23.0% during the fourth quarter. Eventide Asset Management LLC now owns 2,651 shares of the company's stock worth $603,000 after purchasing an additional 496 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Zscaler during the fourth quarter worth approximately $499,000. Brown Advisory Inc. lifted its position in shares of Zscaler by 393.6% during the fourth quarter. Brown Advisory Inc. now owns 24,402 shares of the company's stock worth $5,488,000 after purchasing an additional 19,458 shares in the last quarter. Finally, Baldwin Investment Management LLC lifted its position in shares of Zscaler by 22.8% during the fourth quarter. Baldwin Investment Management LLC now owns 6,887 shares of the company's stock worth $1,549,000 after purchasing an additional 1,279 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Zscaler

Here are the key news stories impacting Zscaler this week:

• Positive Sentiment: Stephens reaffirmed Overweight on Zscaler and set a $200 price target, implying substantial upside from current levels.
• Positive Sentiment: Canaccord Genuity also reiterated Buy and raised its target to $210, signaling continued analyst confidence in Zscaler’s growth outlook.
• Positive Sentiment: Zscaler unveiled new AI-driven security features for its Zero Trust SASE platform, including the ZAgent Framework and other offerings aimed at securing AI agents, endpoints, partners, unmanaged devices, and Kubernetes environments. Zscaler Bets On AI Agent Security And Identity To Revive Growth
• Positive Sentiment: The company also expanded its Zero Trust SASE solution for a world of AI and distributed users, reinforcing its positioning in a fast-growing security niche. Zscaler expands Zero Trust SASE solution for ‘a world of AI with distributed users’
• Neutral Sentiment: Recent media coverage and Zacks commentary show Zscaler remains one of the more closely watched software names, with investors focused on whether AI-related demand can offset slowing growth expectations.
• Neutral Sentiment: Management commentary at recent events emphasized zero trust as a foundation for deploying AI agents, which supports the long-term thesis but does not appear to be an immediate catalyst.
• Negative Sentiment: Zacks noted that Zscaler is trading near a 52-week low after FY27 guidance pointed to slower growth, even though AI security bookings and platform gains may help support the stock.
• Negative Sentiment: The Schall Law Firm announced a fraud investigation into possible false or misleading statements, adding legal and reputational overhang for investors.

Zscaler Stock Performance

ZS opened at $129.52 on Monday. The firm's fifty day moving average is $142.55 and its two-hundred day moving average is $177.12. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a market cap of $20.94 billion, a PE ratio of -269.83, a price-to-earnings-growth ratio of 80.98 and a beta of 0.97. Zscaler, Inc. has a twelve month low of $114.63 and a twelve month high of $336.99.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its earnings results on Tuesday, May 26th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.07. The company had revenue of $850.48 million for the quarter, compared to analyst estimates of $835.14 million. Zscaler had a negative net margin of 2.44% and a negative return on equity of 0.37%. The business's revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share. Zscaler has set its Q4 2026 guidance at 1.080-1.090 EPS and its FY 2026 guidance at 4.100-4.110 EPS. Equities research analysts anticipate that Zscaler, Inc. will post 0.11 EPS for the current year.

Insider Buying and Selling

In other Zscaler news, EVP Raj Judge sold 2,488 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $156.59, for a total value of $389,595.92. Following the sale, the executive vice president directly owned 67,906 shares in the company, valued at approximately $10,633,400.54. This trade represents a 3.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Adam Geller sold 2,094 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $153.53, for a total transaction of $321,491.82. Following the completion of the sale, the insider owned 46,949 shares in the company, valued at approximately $7,208,079.97. This trade represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 12,130 shares of company stock valued at $1,892,487. 17.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Piper Sandler cut their price objective on shares of Zscaler from $185.00 to $160.00 and set a "neutral" rating on the stock in a report on Wednesday, May 27th. Morgan Stanley cut their price objective on shares of Zscaler from $155.00 to $145.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 27th. The Goldman Sachs Group restated a "neutral" rating and issued a $179.00 price objective on shares of Zscaler in a report on Wednesday, May 27th. Wedbush restated an "outperform" rating and issued a $220.00 price objective on shares of Zscaler in a report on Wednesday, June 10th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Zscaler from $250.00 to $205.00 and set an "overweight" rating on the stock in a report on Wednesday, May 27th. Thirty-four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Zscaler has a consensus rating of "Moderate Buy" and a consensus target price of $214.33.

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.

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