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

Canada Pension Plan Investment Board boosted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 57.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,436 shares of the company’s stock after buying an additional 5,645 shares during the period. Canada Pension Plan Investment Board’s holdings in Zscaler were worth $2,967,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. purchased a new position in shares of Zscaler during the fourth quarter worth about $217,683,000. Quadrature Capital Ltd purchased a new position in shares of Zscaler in the 1st quarter valued at approximately $47,217,000. Vanguard Group Inc. grew its stake in shares of Zscaler by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company’s stock valued at $1,959,426,000 after purchasing an additional 206,908 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Zscaler in the first quarter valued at approximately $27,954,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Zscaler during the second quarter worth approximately $25,287,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on ZS shares. Robert W. Baird dropped their price objective on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Wells Fargo & Company cut their price target on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. Oppenheimer lowered their price objective on Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and set a $230.00 target price on shares of Zscaler in a research note on Wednesday, September 4th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $190.00 price target on shares of Zscaler in a research note on Wednesday, September 4th. Nine research 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 stock. According to data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and an average target price of $218.39.

Insider Activity

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the sale, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the transaction, the director now owns 25,907 shares in the company, valued at $4,510,408.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the sale, the chief executive officer now owns 361,432 shares of the company’s stock, valued at $61,906,072.96. The disclosure for this sale can be found here. Insiders sold a total of 24,120 shares of company stock valued at $4,153,834 over the last quarter. Company insiders own 19.20% of the company’s stock.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $170.93 on Friday. The company has a 50-day simple moving average of $179.26 and a 200-day simple moving average of $182.32. The company has a market cap of $25.84 billion, a PE ratio of -335.16 and a beta of 0.82. Zscaler, Inc. has a 12 month low of $146.64 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The firm had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same period in the previous year, the company earned ($0.17) EPS. Zscaler’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, analysts anticipate that Zscaler, Inc. will post -0.92 EPS for the current year.

Zscaler 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.