Zscaler, Inc. (NASDAQ:ZS) Position Trimmed by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. decreased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS – Get Rating) by 20.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,394 shares of the company’s stock after selling 3,125 shares during the period. Pinnacle Associates Ltd.’s holdings in Zscaler were worth $2,037,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ZS. Janney Montgomery Scott LLC boosted its holdings in shares of Zscaler by 44.8% during the second quarter. Janney Montgomery Scott LLC now owns 3,981 shares of the company’s stock valued at $617,000 after acquiring an additional 1,232 shares during the period. Diversified Trust Co boosted its holdings in shares of Zscaler by 32.1% during the second quarter. Diversified Trust Co now owns 7,487 shares of the company’s stock valued at $1,119,000 after acquiring an additional 1,819 shares during the period. Kingsview Wealth Management LLC acquired a new position in shares of Zscaler during the second quarter valued at $1,435,000. Parallel Advisors LLC boosted its holdings in shares of Zscaler by 35.8% during the second quarter. Parallel Advisors LLC now owns 398 shares of the company’s stock valued at $60,000 after acquiring an additional 105 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Zscaler during the second quarter valued at $37,000. Institutional investors own 45.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Zscaler from $190.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, December 2nd. UBS Group reduced their price objective on shares of Zscaler from $200.00 to $180.00 and set a “buy” rating for the company in a report on Friday, December 2nd. Guggenheim reduced their price objective on shares of Zscaler to $190.00 in a report on Friday, December 2nd. Truist Financial reduced their price objective on shares…