Arcadia Investment Management Corp MI Purchases 736 Shares of Zscaler, Inc. (NASDAQ:ZS)

Arcadia Investment Management Corp MI grew its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 2.6% in the fourth quarter, Holdings Channel reports. The fund owned 29,340 shares of the company’s stock after buying an additional 736 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Zscaler were worth $5,293,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global X Japan Co. Ltd. boosted its position in shares of Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Zscaler during the 4th quarter valued at approximately $29,000. Prestige Wealth Management Group LLC bought a new position in shares of Zscaler during the 3rd quarter valued at approximately $31,000. Versant Capital Management Inc boosted its position in shares of Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after acquiring an additional 104 shares during the last quarter. Finally, True Wealth Design LLC boosted its position in shares of Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after acquiring an additional 185 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors.

Insider Transactions at Zscaler

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the transaction, the chief financial officer now directly owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. The trade was a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the transaction, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at $71,828,542.08. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,248 shares of company stock worth $2,052,879. Insiders own 18.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Canaccord Genuity Group raised their price target on Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. JMP Securities restated a “market outperform” rating and issued a $240.00 price target (down from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Needham & Company LLC restated a “buy” rating and issued a $240.00 price target on shares of Zscaler in a research report on Friday, January 10th. Citigroup raised their price target on Zscaler from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their price target on Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Eleven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $225.63.

Zscaler Trading Down 3.6 %

ZS opened at $206.97 on Friday. The business’s 50-day moving average is $195.38 and its two-hundred day moving average is $190.31. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $251.55.

Zscaler (NASDAQ:ZS) last posted its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. As a group, research analysts anticipate that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

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.