Arlington Capital Management Inc. Makes New $2.11 Million Investment in Zscaler, Inc. (NASDAQ:ZS)

Arlington Capital Management Inc. purchased a new position in Zscaler, Inc. (NASDAQ:ZS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,677 shares of the company’s stock, valued at approximately $2,107,000. Zscaler accounts for 1.5% of Arlington Capital Management Inc.’s holdings, making the stock its 15th biggest position.

Other hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in Zscaler by 4.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,184 shares of the company’s stock worth $1,228,000 after purchasing an additional 306 shares during the period. Commerce Bank lifted its position in shares of Zscaler by 8.9% in the 3rd quarter. Commerce Bank now owns 1,564 shares of the company’s stock worth $267,000 after purchasing an additional 128 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Zscaler by 50.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,082 shares of the company’s stock worth $698,000 after purchasing an additional 1,363 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Zscaler by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock valued at $60,696,000 after purchasing an additional 16,634 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in Zscaler by 73.5% during the third quarter. Cerity Partners LLC now owns 10,562 shares of the company’s stock valued at $1,806,000 after buying an additional 4,476 shares during the period. Institutional investors own 46.45% of the company’s stock.

Zscaler Price Performance

Zscaler stock opened at $215.73 on Wednesday. The firm has a fifty day moving average price of $200.82 and a two-hundred day moving average price of $192.83. The firm has a market cap of $33.38 billion, a price-to-earnings ratio of -862.92 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.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ZS shares. Oppenheimer lifted their price target on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Canaccord Genuity Group raised their price target on shares of Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Susquehanna boosted their price objective on shares of Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research note on Tuesday, December 3rd. Barclays reiterated an “overweight” rating on shares of Zscaler in a report on Wednesday, March 5th. Finally, Citigroup reaffirmed a “buy” rating and issued a $240.00 price target (up previously from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and an average price target of $232.68.

Insider Buying and Selling

In other news, insider Robert Schlossman sold 2,878 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $573,153.70. Following the sale, the insider now owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. This represents a 2.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the sale, the chief executive officer now directly owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. The trade was a 0.60 % 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 valued at $39,970,790. 18.10% of the stock is owned by company insiders.

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.