Ilmarinen Mutual Pension Insurance Co Has $10.83 Million Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Ilmarinen Mutual Pension Insurance Co boosted its holdings in Zscaler, Inc. (NASDAQ:ZS) by 71.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,000 shares of the company’s stock after buying an additional 25,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Zscaler were worth $10,825,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ZS. The Manufacturers Life Insurance Company increased its holdings in shares of Zscaler by 9.1% during the third quarter. The Manufacturers Life Insurance Company now owns 6,969 shares of the company’s stock worth $1,191,000 after buying an additional 581 shares in the last quarter. Captrust Financial Advisors increased its holdings in Zscaler by 11.2% in the 3rd quarter. Captrust Financial Advisors now owns 5,024 shares of the company’s stock worth $859,000 after purchasing an additional 504 shares in the last quarter. Benjamin Edwards Inc. bought a new position in Zscaler in the third quarter valued at about $449,000. HighTower Advisors LLC boosted its stake in shares of Zscaler by 4.1% during the third quarter. HighTower Advisors LLC now owns 64,574 shares of the company’s stock valued at $11,064,000 after purchasing an additional 2,520 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Zscaler by 9.0% during the third quarter. Janus Henderson Group PLC now owns 9,444 shares of the company’s stock worth $1,614,000 after purchasing an additional 782 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Zscaler Trading Down 9.1 %

ZS opened at $174.67 on Friday. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84. The company has a market cap of $27.03 billion, a price-to-earnings ratio of -698.68 and a beta of 1.12. The company’s fifty day moving average price is $202.38 and its two-hundred day moving average price is $194.60.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Zscaler from $190.00 to $210.00 and gave the company an “equal weight” rating in a report on Thursday, March 6th. The Goldman Sachs Group set a $207.00 price target on shares of Zscaler and gave the stock a “neutral” rating in a report on Thursday, March 6th. Stephens started coverage on Zscaler in a report on Tuesday, April 1st. They issued an “overweight” rating and a $255.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Finally, BTIG Research set a $252.00 price target on Zscaler and gave the company a “buy” rating in a research note on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $234.94.

Insider Transactions at Zscaler

In related 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 sale, the director now directly owns 27,216 shares of the company’s stock, valued at approximately $5,606,496. This represents a 26.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares in the company, valued at approximately $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 sold a total of 209,234 shares of company stock valued at $42,030,790 over the last three months. Corporate insiders own 18.10% of the company’s stock.

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.