Arlington Capital Management Inc. Purchases New Shares in Zscaler, Inc. (NASDAQ:ZS)

Arlington Capital Management Inc. acquired a new stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,677 shares of the company's stock, valued at approximately $2,107,000. Zscaler accounts for about 1.5% of Arlington Capital Management Inc.'s investment portfolio, making the stock its 15th biggest holding.

Several other institutional investors and hedge funds have also recently made changes to their positions in ZS. Geode Capital Management LLC grew its position in shares of Zscaler by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company's stock worth $277,327,000 after buying an additional 60,414 shares during the last quarter. Bank of New York Mellon Corp increased its position in Zscaler by 3.2% during the 4th quarter. Bank of New York Mellon Corp now owns 539,113 shares of the company's stock valued at $97,261,000 after purchasing an additional 16,742 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Zscaler by 11.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company's stock worth $65,036,000 after purchasing an additional 37,801 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Zscaler by 6.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 377,725 shares of the company's stock worth $68,145,000 after purchasing an additional 22,655 shares during the period. Finally, LBP AM SA increased its position in shares of Zscaler by 14.7% during the fourth quarter. LBP AM SA now owns 366,978 shares of the company's stock valued at $66,207,000 after buying an additional 47,041 shares during the period. Institutional investors own 46.45% of the company's stock.

Remove Ads

Analyst Ratings Changes

Several research firms have weighed in on ZS. BMO Capital Markets lifted their price objective on Zscaler from $222.00 to $233.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Loop Capital reduced their price target on Zscaler from $200.00 to $195.00 and set a "hold" rating on the stock in a research note on Tuesday, December 3rd. Mizuho raised their price objective on Zscaler from $210.00 to $225.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Guggenheim reiterated a "neutral" rating on shares of Zscaler in a research note on Tuesday, December 3rd. Finally, Rosenblatt Securities upgraded shares of Zscaler from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $190.00 to $235.00 in a 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $232.68.

Insiders Place Their Bets

In related news, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the transaction, the insider now directly owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Remo Canessa sold 3,721 shares of Zscaler stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $741,037.15. Following the sale, the chief financial officer now owns 213,702 shares in the company, valued at approximately $42,558,753.30. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 199,234 shares of company stock worth $39,970,790. Company insiders own 18.10% of the company's stock.

Zscaler Stock Down 1.1 %

ZS traded down $2.31 during midday trading on Friday, reaching $207.14. The company had a trading volume of 2,427,477 shares, compared to its average volume of 1,897,022. The business has a 50-day moving average of $202.08 and a two-hundred day moving average of $193.67. The company has a market cap of $32.05 billion, a P/E ratio of -828.56 and a beta of 0.88. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $217.84.

About Zscaler

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.