Pier 88 Investment Partners LLC Purchases New Position in Zscaler, Inc. (NASDAQ:ZS)

Pier 88 Investment Partners LLC acquired a new stake in Zscaler, Inc. (NASDAQ:ZS) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 1,990 shares of the company’s stock, valued at approximately $340,000.

Several other institutional investors have also added to or reduced their stakes in ZS. Quest Partners LLC purchased a new position in Zscaler in the second quarter worth about $28,000. Asset Dedication LLC grew its position in Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after buying an additional 166 shares during the period. American Capital Advisory LLC purchased a new stake in Zscaler during the second quarter valued at approximately $50,000. GAMMA Investing LLC raised its position in Zscaler by 21.3% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after acquiring an additional 67 shares during the period. Finally, Quarry LP boosted its stake in shares of Zscaler by 613.0% during the 2nd quarter. Quarry LP now owns 385 shares of the company’s stock worth $74,000 after acquiring an additional 331 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Trading Up 0.4 %

Shares of Zscaler stock opened at $209.85 on Thursday. The firm’s 50-day moving average is $180.42 and its two-hundred day moving average is $182.18. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. During the same period in the prior year, the firm posted ($0.17) earnings per share. The business’s quarterly revenue was up 30.3% on a year-over-year basis. Equities analysts expect that Zscaler, Inc. will post -0.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ZS shares. Susquehanna reaffirmed a “positive” rating and issued a $210.00 target price on shares of Zscaler in a report on Thursday, September 5th. Needham & Company LLC lowered their price objective on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 4th. JMP Securities reissued a “market outperform” rating and issued a $270.00 target price on shares of Zscaler in a report on Monday, November 4th. Oppenheimer dropped their price target on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Finally, Morgan Stanley lifted their target price on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and a consensus price target of $216.73.

Insider Buying and Selling

In related news, insider Robert Schlossman sold 4,947 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $170.22, for a total value of $842,078.34. Following the sale, the insider now owns 107,241 shares in the company, valued at $18,254,563.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Andrew William Fraser Brown sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the sale, the director now owns 25,907 shares in the company, valued at approximately $4,510,408.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 4,947 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the sale, the insider now directly owns 107,241 shares in the company, valued at approximately $18,254,563.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $5,256,651 in the last 90 days. Insiders own 19.20% of the company’s stock.

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.