Arlington Capital Management Inc. Acquires New Holdings 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 & Exchange Commission. The fund purchased 3,680 shares of the company’s stock, valued at approximately $815,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Polar Capital Holdings Plc purchased a new position in Zscaler in the 3rd quarter worth about $61,681,000. International Assets Investment Management LLC increased its stake in Zscaler by 19,012.4% in the 4th quarter. International Assets Investment Management LLC now owns 223,997 shares of the company’s stock worth $49,629,000 after purchasing an additional 222,825 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Zscaler by 370.3% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 249,310 shares of the company’s stock worth $55,660,000 after purchasing an additional 196,296 shares in the last quarter. Federated Hermes Inc. purchased a new position in Zscaler in the 4th quarter worth about $39,246,000. Finally, Vanguard Group Inc. increased its stake in Zscaler by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock worth $1,343,810,000 after purchasing an additional 129,090 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup lifted their target price on Zscaler from $235.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. KeyCorp raised Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 target price on the stock in a research note on Thursday, April 18th. BMO Capital Markets reduced their price target on Zscaler from $268.00 to $255.00 and set an “outperform” rating for the company in a report on Friday, March 1st. JMP Securities reiterated a “market outperform” rating and set a $270.00 price target on shares of Zscaler in a report on Friday, March 1st. Finally, Rosenblatt Securities lifted their price target on Zscaler from $285.00 to $290.00 and gave the company a “buy” rating in a report on Friday, March 1st. Five investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $230.24.

Insiders Place Their Bets

In other Zscaler news, insider Syam Nair sold 2,893 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $558,782.95. Following the completion of the transaction, the insider now directly owns 137,294 shares in the company, valued at $26,518,336.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Karen Blasing sold 7,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $250.90, for a total value of $1,756,300.00. Following the completion of the sale, the director now directly owns 40,372 shares in the company, valued at $10,129,334.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Syam Nair sold 2,893 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $558,782.95. Following the completion of the sale, the insider now owns 137,294 shares of the company’s stock, valued at $26,518,336.10. The disclosure for this sale can be found here. Insiders sold 19,715 shares of company stock worth $4,212,202 over the last three months. 19.20% of the stock is currently owned by corporate insiders.

Zscaler Stock Performance

Shares of ZS traded up $1.98 on Thursday, reaching $172.98. 710,873 shares of the stock traded hands, compared to its average volume of 2,162,119. The firm has a market cap of $25.93 billion, a price-to-earnings ratio of -181.53 and a beta of 0.85. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.98 and a quick ratio of 1.98. Zscaler, Inc. has a 12 month low of $111.27 and a 12 month high of $259.61. The stock’s 50-day moving average price is $188.61 and its 200-day moving average price is $203.78.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. The business had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $507.56 million. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. Equities analysts forecast that Zscaler, Inc. will post -0.8 EPS for the current fiscal year.

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.