Arlington Capital Management Inc. Takes Position in Zscaler, Inc. (NASDAQ:ZS)

Arlington Capital Management Inc. bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,677 shares of the company’s stock, valued at approximately $2,107,000. Zscaler comprises approximately 1.5% of Arlington Capital Management Inc.’s holdings, making the stock its 15th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZS. Fred Alger Management LLC increased its holdings in shares of Zscaler by 1,151.0% during the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock worth $1,773,000 after acquiring an additional 9,542 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Zscaler by 11.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after purchasing an additional 37,801 shares during the last quarter. Zweig DiMenna Associates LLC raised its position in shares of Zscaler by 29.8% in the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock valued at $14,061,000 after purchasing an additional 17,900 shares during the period. Baader Bank Aktiengesellschaft boosted its holdings in shares of Zscaler by 30.3% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after buying an additional 1,952 shares during the period. Finally, Benjamin Edwards Inc. acquired a new position in Zscaler in the 3rd quarter valued at about $449,000. 46.45% of the stock is owned by institutional investors.

Insider Activity

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business’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 $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the sale, the insider now directly owns 2,580,210 shares of the company’s stock, valued at $517,822,344.90. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 199,234 shares of company stock worth $39,970,790 over the last quarter. Insiders own 18.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a research report on Tuesday, December 3rd. UBS Group upped their price target on shares of Zscaler from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Morgan Stanley began coverage on shares of Zscaler in a research note on Tuesday, March 18th. They issued an “equal weight” rating for the company. Mizuho raised their target price on shares of Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group upped their target price on Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, Zscaler has a consensus rating of “Moderate Buy” and a consensus price target of $232.68.

Zscaler Stock Performance

ZS opened at $215.73 on Wednesday. The stock has a market cap of $33.38 billion, a price-to-earnings ratio of -862.92 and a beta of 0.88. The firm’s fifty day moving average is $200.82 and its 200 day moving average is $192.83. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84.

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.