Investment Management Corp of Ontario Increases Holdings in Zscaler, Inc. (NASDAQ:ZS)

Investment Management Corp of Ontario lifted its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 45.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,509 shares of the company's stock after acquiring an additional 1,411 shares during the period. Investment Management Corp of Ontario's holdings in Zscaler were worth $813,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ZS. Geode Capital Management LLC increased its position in Zscaler by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock worth $298,710,000 after acquiring an additional 32,545 shares during the period. Pictet Asset Management Holding SA grew its holdings in shares of Zscaler by 25.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock valued at $291,935,000 after purchasing an additional 332,307 shares during the last quarter. AQR Capital Management LLC boosted its position in Zscaler by 120.1% during the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock worth $173,921,000 after buying an additional 525,956 shares during the period. Artisan Partners Limited Partnership boosted its position in Zscaler by 30.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock worth $156,739,000 after buying an additional 204,996 shares during the period. Finally, DnB Asset Management AS boosted its position in Zscaler by 66.8% during the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock worth $120,403,000 after buying an additional 267,162 shares during the period. Institutional investors own 46.45% of the company's stock.

Insider Buying and Selling at Zscaler

In other news, Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction on 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 transaction, the director now directly owns 27,216 shares in the company, valued at approximately $5,606,496. This represents a 26.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the sale, the chief executive officer now owns 356,414 shares of the company's stock, valued at $70,979,848.10. The trade was a 0.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,234 shares of company stock worth $42,030,790. Insiders own 18.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Zscaler from $230.00 to $250.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. raised their price target on shares of Zscaler from $240.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday, March 6th. Cantor Fitzgerald raised shares of 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 research report on Thursday, April 3rd. Wedbush lifted their price objective on shares of Zscaler from $230.00 to $240.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Finally, Citigroup reiterated a "buy" rating and issued a $240.00 target price (up previously from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Zscaler currently has a consensus rating of "Moderate Buy" and an average target price of $237.44.

Zscaler Stock Up 0.6%

Zscaler stock traded up $1.47 during trading hours on Thursday, hitting $245.92. The stock had a trading volume of 3,097,651 shares, compared to its average volume of 2,037,141. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $247.28. The company has a 50-day moving average of $209.13 and a two-hundred day moving average of $201.55. The company has a market cap of $38.05 billion, a PE ratio of -983.68 and a beta of 1.14.

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.