Pier 88 Investment Partners LLC Has $305,000 Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Pier 88 Investment Partners LLC lowered its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 15.1% in the fourth quarter, HoldingsChannel reports. The fund owned 1,690 shares of the company’s stock after selling 300 shares during the period. Pier 88 Investment Partners LLC’s holdings in Zscaler were worth $305,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Global X Japan Co. Ltd. lifted its position in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Zscaler in the 4th quarter valued at $27,000. Stonebridge Financial Group LLC bought a new stake in Zscaler during the 4th quarter worth about $29,000. Prestige Wealth Management Group LLC acquired a new position in shares of Zscaler during the 3rd quarter worth about $31,000. Finally, True Wealth Design LLC grew its holdings in shares of Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after acquiring an additional 185 shares in the last quarter. 46.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Remo Canessa sold 3,721 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $741,037.15. Following the completion of the sale, the chief financial officer now directly owns 213,702 shares in the company, valued at $42,558,753.30. This represents a 1.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction dated 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 completion of the transaction, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 199,234 shares of company stock worth $39,970,790. Company insiders own 18.10% of the company’s stock.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $207.14 on Monday. The business has a fifty day moving average price of $202.08 and a two-hundred day moving average price of $193.89. The stock has a market capitalization of $32.05 billion, a PE ratio of -828.56 and a beta of 0.88. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84.

Wall Street Analyst Weigh In

ZS has been the topic of several analyst reports. Piper Sandler upped their target price on Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Royal Bank of Canada increased their price objective on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Susquehanna boosted their target price on shares of Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a report on Tuesday, December 3rd. Morgan Stanley assumed coverage on shares of Zscaler in a research note on Tuesday, March 18th. They issued an “equal weight” rating for the company. Finally, Robert W. Baird lifted their price objective on shares of Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Nine analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and an average price target of $232.68.

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.