Arcadia Investment Management Corp MI Grows Holdings in Zscaler, Inc. $ZS

Arcadia Investment Management Corp MI boosted its position in Zscaler, Inc. (NASDAQ:ZS) by 8.8% in the third quarter, HoldingsChannel reports. The firm owned 33,616 shares of the company’s stock after buying an additional 2,715 shares during the quarter. Zscaler accounts for about 1.6% of Arcadia Investment Management Corp MI’s holdings, making the stock its 21st largest holding. Arcadia Investment Management Corp MI’s holdings in Zscaler were worth $10,073,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Integrated Wealth Concepts LLC grew its holdings in shares of Zscaler by 19.9% in the first quarter. Integrated Wealth Concepts LLC now owns 1,439 shares of the company’s stock valued at $285,000 after acquiring an additional 239 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Zscaler by 8.2% during the first quarter. NewEdge Advisors LLC now owns 4,899 shares of the company’s stock worth $972,000 after acquiring an additional 370 shares during the period. Empowered Funds LLC boosted its position in Zscaler by 9.2% in the first quarter. Empowered Funds LLC now owns 2,811 shares of the company’s stock worth $558,000 after purchasing an additional 238 shares during the last quarter. Belpointe Asset Management LLC grew its stake in Zscaler by 10.8% in the 1st quarter. Belpointe Asset Management LLC now owns 1,166 shares of the company’s stock valued at $231,000 after purchasing an additional 114 shares during the period. Finally, Woodstock Corp grew its stake in Zscaler by 3.3% in the 2nd quarter. Woodstock Corp now owns 49,450 shares of the company’s stock valued at $15,524,000 after purchasing an additional 1,598 shares during the period. Institutional investors own 46.45% of the company’s stock.

Key Zscaler News

Here are the key news stories impacting Zscaler this week:

• Positive Sentiment: Appointment of AI security leader positions Zscaler to monetize AI-era security: Zscaler named Dr. Swamy Kocherlakota EVP of Agentic AI Security Engineering to lead architecture-level defenses for autonomous AI agents, reinforcing Zscaler’s Zero Trust narrative and product differentiation. Zscaler Appoints Dr. Swamy Kocherlakota
• Positive Sentiment: Channel momentum: WEI achieved Zscaler Premier Partner status, which could help accelerate enterprise deployments for Zero Trust and secure AI use cases. That partnership supports sales/renewal growth at the customer-facing level. WEI Achieves Zscaler Premier Partner Status
• Positive Sentiment: Analyst and thematic bullishness / technical rebound signals: Multiple articles profile ZS as a long-term growth story (MSN, Zacks) and MarketBeat flagged ZS as an oversold security with improving momentum after strong revenue and an earnings beat — supportive for momentum investors. Why Zscaler is a top growth stock (MSN) Zacks coverage MarketBeat Oversold Stocks
• Neutral Sentiment: Citigroup trimmed its ZS price target from $350 to $305 but maintained a Buy rating — reduces some upside vs. prior consensus but keeps institutional support. Citigroup target cut (Benzinga)
• Neutral Sentiment: Analyst landscape: Coverage remains overwhelmingly positive (many Buy/Outperform ratings and diverse price targets), but targets vary widely — signaling conviction but also dispersion in near-term valuation expectations. 24 analyst projections (Benzinga)
• Negative Sentiment: Significant insider selling: Quiver/press summaries show repeated insider sales across senior executives (multiple large sales over the past 6 months), which can weigh on sentiment and raise governance/valuation questions for some investors. Quiver summary with insider activity

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ZS shares. Wedbush lifted their target price on Zscaler from $330.00 to $350.00 and gave the stock an “outperform” rating in a research note on Monday, November 10th. Stifel Nicolaus lowered their price objective on shares of Zscaler from $330.00 to $320.00 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Citigroup dropped their target price on shares of Zscaler from $350.00 to $305.00 and set a “buy” rating on the stock in a research note on Tuesday. Wall Street Zen lowered shares of Zscaler from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, Sanford C. Bernstein cut shares of Zscaler from an “outperform” rating to a “hold” rating in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $317.63.

Insider Buying and Selling

In other Zscaler news, CFO Kevin Rubin sold 3,303 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $230.82, for a total value of $762,398.46. Following the completion of the transaction, the chief financial officer owned 48,161 shares in the company, valued at $11,116,522.02. This trade represents a 6.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Raj Judge sold 3,438 shares of Zscaler stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $230.82, for a total value of $793,559.16. Following the transaction, the executive vice president directly owned 70,394 shares of the company’s stock, valued at $16,248,343.08. The trade was a 4.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,550 shares of company stock valued at $5,511,509 in the last 90 days. Corporate insiders own 17.20% of the company’s stock.

Zscaler Stock Performance

NASDAQ ZS opened at $216.85 on Wednesday. The firm has a market cap of $34.58 billion, a P/E ratio of -834.01, a price-to-earnings-growth ratio of 4,153.86 and a beta of 1.02. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.86. The company’s 50 day moving average is $254.11 and its 200-day moving average is $279.50. Zscaler, Inc. has a 12-month low of $164.78 and a 12-month high of $336.99.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Tuesday, November 25th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.85 by $0.11. Zscaler had a negative net margin of 1.45% and a negative return on equity of 0.12%. The company had revenue of $788.11 million during the quarter, compared to the consensus estimate of $773.86 million. During the same period last year, the firm earned $0.77 EPS. Zscaler’s revenue for the quarter was up 25.5% on a year-over-year basis. Zscaler has set its FY 2026 guidance at 3.780-3.820 EPS and its Q2 2026 guidance at 0.890-0.900 EPS. Sell-side analysts predict that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Zscaler Profile

Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.

Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.