Canada Pension Plan Investment Board Grows Stake in Zscaler, Inc. (NASDAQ:ZS)

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

A number of other hedge funds also recently made changes to their positions in ZS. Geode Capital Management LLC raised its stake in shares of Zscaler by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock valued at $298,710,000 after buying an additional 32,545 shares during the period. Pictet Asset Management Holding SA raised its stake in Zscaler by 25.8% in 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 acquiring an additional 332,307 shares during the period. Artisan Partners Limited Partnership lifted its holdings in Zscaler by 30.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock valued at $156,739,000 after purchasing an additional 204,996 shares during the last quarter. DnB Asset Management AS boosted its position in Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock worth $120,403,000 after purchasing an additional 267,162 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Zscaler by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company's stock worth $97,261,000 after purchasing an additional 16,742 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Insider Activity at Zscaler

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Zscaler from $240.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. Wells Fargo & Company lifted their price target on Zscaler from $190.00 to $210.00 and gave the company an "equal weight" rating in a research report on Thursday, March 6th. Barclays reissued an "overweight" rating on shares of Zscaler in a report on Wednesday, March 5th. Wedbush lifted their target price on Zscaler from $230.00 to $240.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Finally, Roth Capital assumed coverage on shares of Zscaler in a report on Wednesday. They issued a "neutral" rating and a $215.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.16.

Zscaler Trading Up 2.6 %

NASDAQ ZS traded up $5.44 during trading on Friday, hitting $215.58. The company had a trading volume of 2,884,983 shares, compared to its average volume of 1,992,800. The company's fifty day moving average is $199.30 and its 200-day moving average is $197.39. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The company has a market cap of $33.36 billion, a price-to-earnings ratio of -862.32 and a beta of 1.12.

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.