Zscaler, Inc. $ZS Shares Sold by Stephens Inc. AR

Stephens Inc. AR reduced its holdings in Zscaler, Inc. (NASDAQ:ZS) by 75.7% during the 3rd quarter, Holdings Channel reports. The firm owned 12,336 shares of the company’s stock after selling 38,401 shares during the quarter. Stephens Inc. AR’s holdings in Zscaler were worth $3,697,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ZS. Brookstone Capital Management purchased a new stake in shares of Zscaler during the second quarter worth about $283,000. VestGen Advisors LLC acquired a new stake in Zscaler in the 2nd quarter worth about $1,592,000. Mackenzie Financial Corp boosted its holdings in Zscaler by 133.6% in the 2nd quarter. Mackenzie Financial Corp now owns 14,780 shares of the company’s stock worth $4,640,000 after buying an additional 8,454 shares during the last quarter. Schroder Investment Management Group increased its stake in Zscaler by 11.5% during the 2nd quarter. Schroder Investment Management Group now owns 164,061 shares of the company’s stock worth $51,505,000 after buying an additional 16,868 shares in the last quarter. Finally, Ensign Peak Advisors Inc raised its holdings in shares of Zscaler by 9.9% during the second quarter. Ensign Peak Advisors Inc now owns 395,391 shares of the company’s stock valued at $124,129,000 after acquiring an additional 35,770 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Kevin Rubin sold 3,303 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $230.82, for a total transaction of $762,398.46. Following the completion of the transaction, the chief financial officer directly owned 48,161 shares in the company, valued at approximately $11,116,522.02. This represents a 6.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Raj Judge sold 3,438 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 $793,559.16. Following the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,550 shares of company stock valued at $5,511,509 in the last ninety days. Company insiders own 17.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ZS shares. Scotiabank decreased their target price on Zscaler from $334.00 to $320.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, November 26th. Barclays increased their price objective on Zscaler from $320.00 to $350.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Citizens Jmp reaffirmed a “market outperform” rating and set a $355.00 target price on shares of Zscaler in a research note on Wednesday, November 26th. Wedbush upped their target price on shares of Zscaler from $330.00 to $350.00 and gave the stock an “outperform” rating in a report on Monday, November 10th. Finally, Zacks Research raised shares of Zscaler from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $317.63.

Zscaler News Roundup

Here are the key news stories impacting Zscaler this week:

• Positive Sentiment: Zscaler shows accelerating platform traction, with management-led GTM changes and the Z‑Flex initiative reportedly driving >20% revenue growth, stronger net retention, bigger platform deals, AI security growth of >80% y/y, and Data Security ARR near $450M — a clear catalyst for upside if execution continues. Zscaler: Growth Path Ahead Has Gotten Clearer And Stronger
• Positive Sentiment: KeyCorp reiterates an Overweight stance with a $300 target and published updated quarterly and multi‑year EPS forecasts (FY26/FY27 showing improvement toward profitability). That analyst support provides a near‑term valuation tailwind vs. the recent pullback.
• Neutral Sentiment: A Seeking Alpha piece upgraded Zscaler but advised caution — the rating change signals improving sentiment, but the author recommends waiting for clearer confirmation, which can limit immediate buying. Zscaler: I Wouldn’t Pull The Trigger Just Yet (Rating Upgrade)
• Neutral Sentiment: Competitive landscape analysis vs. Netskope highlights an active, high‑growth battle for the AI‑security edge — underlines both opportunity and execution risk as customers consolidate around a preferred platform. Zscaler Vs. Netskope: The Battle For The AI Cybersecurity Edge
• Negative Sentiment: Citigroup trimmed its price target to $305, a downward revision that can pressure sentiment and cap upside for short‑term traders. Citigroup Lowers Zscaler (NASDAQ:ZS) Price Target to $305.00
• Negative Sentiment: Market reports noted Zscaler’s share dip versus the broader market, reflecting short‑term selling on the mix of analyst moves and overall sector weakness. Why Zscaler (ZS) Dipped More Than Broader Market Today

Zscaler Trading Down 1.8%

Shares of ZS opened at $210.50 on Friday. 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. The firm has a 50-day moving average price of $249.77 and a 200 day moving average price of $278.57. The firm has a market capitalization of $33.57 billion, a P/E ratio of -809.57, a P/E/G ratio of 3,521.67 and a beta of 1.02.

Zscaler (NASDAQ:ZS) last issued its earnings results on Tuesday, November 25th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $773.86 million. During the same period in the previous year, the firm earned $0.77 earnings per share. Zscaler’s quarterly revenue was up 25.5% compared to the same quarter last year. 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 forecast that Zscaler, Inc. will post -0.1 EPS for the current year.

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.