Arcadia Investment Management Corp MI Has $10.07 Million Stock Position in Zscaler, Inc. $ZS

Arcadia Investment Management Corp MI boosted its stake in Zscaler, Inc. (NASDAQ:ZS) by 8.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,616 shares of the company’s stock after acquiring an additional 2,715 shares during the period. Zscaler accounts for 1.6% of Arcadia Investment Management Corp MI’s investment portfolio, making the stock its 21st largest holding. Arcadia Investment Management Corp MI’s holdings in Zscaler were worth $10,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ZS. Federated Hermes Inc. boosted its stake in shares of Zscaler by 314.0% in the 2nd quarter. Federated Hermes Inc. now owns 1,171,983 shares of the company’s stock valued at $367,932,000 after purchasing an additional 888,888 shares during the last quarter. Vanguard Group Inc. raised its stake in Zscaler by 8.3% during the second quarter. Vanguard Group Inc. now owns 10,715,132 shares of the company’s stock worth $3,363,909,000 after buying an additional 824,626 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in Zscaler by 167.7% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 421,393 shares of the company’s stock worth $132,250,000 after buying an additional 263,982 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in Zscaler by 131.4% in the second quarter. 1832 Asset Management L.P. now owns 461,800 shares of the company’s stock valued at $144,977,000 after buying an additional 262,200 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Zscaler by 421.9% during the second quarter. Robeco Institutional Asset Management B.V. now owns 323,351 shares of the company’s stock valued at $101,513,000 after acquiring an additional 261,390 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Trending Headlines about Zscaler

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Zscaler from $351.00 to $354.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Scotiabank decreased their target price on Zscaler from $334.00 to $320.00 and set a “sector outperform” rating for the company in a research note on Wednesday, November 26th. Barclays lifted their target price on Zscaler from $320.00 to $350.00 and gave the stock an “overweight” rating in a report on Wednesday, November 12th. Berenberg Bank cut their price target on Zscaler from $400.00 to $390.00 and set a “buy” rating on the stock in a report on Friday, November 28th. Finally, Morgan Stanley set a $305.00 price objective on shares of Zscaler in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and an average price target of $317.63.

Zscaler Stock Performance

NASDAQ ZS opened at $216.85 on Wednesday. The company has a market cap of $34.58 billion, a P/E ratio of -834.01, a PEG ratio of 4,153.86 and a beta of 1.02. The company has a fifty day simple moving average of $254.11 and a 200 day simple moving average of $279.50. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.86. 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.11. The firm had revenue of $788.11 million for the quarter, compared to analyst estimates of $773.86 million. Zscaler had a negative net margin of 1.45% and a negative return on equity of 0.12%. The business’s quarterly revenue was up 25.5% compared to the same quarter last year. During the same period last year, the firm earned $0.77 earnings per share. 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 fiscal year.

Insider Activity

In other news, insider Robert Schlossman sold 2,349 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $232.79, for a total value of $546,823.71. Following the completion of the sale, the insider directly owned 74,653 shares of the company’s stock, valued at $17,378,471.87. This represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Adam Geller sold 1,620 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $232.79, for a total value of $377,119.80. Following the completion of the transaction, the insider owned 50,528 shares in the company, valued at $11,762,413.12. This represents a 3.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 22,550 shares of company stock worth $5,511,509. Company insiders own 17.20% of the company’s stock.

About Zscaler

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.