Banque Cantonale Vaudoise Decreases Position in Zscaler, Inc. $ZS

Key Points

• Banque Cantonale Vaudoise reduced its Zscaler stake by 31.4% in the fourth quarter, selling 7,634 shares and leaving it with 16,705 shares valued at about $3.76 million.
• Institutional ownership remains high, with hedge funds and other investors holding 46.45% of Zscaler shares. Several large firms, including Vanguard and Groupama, increased their positions.
• Analysts remain broadly positive on Zscaler, with a consensus Moderate Buy rating and an average price target of $261.26. The company also beat earnings expectations, posted 25.9% revenue growth, and raised guidance for fiscal 2026.

Banque Cantonale Vaudoise cut its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 31.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 16,705 shares of the company's stock after selling 7,634 shares during the period. Banque Cantonale Vaudoise's holdings in Zscaler were worth $3,758,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Zscaler by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 11,423,424 shares of the company's stock worth $2,569,357,000 after buying an additional 55,521 shares during the last quarter. Groupama Asset Managment raised its holdings in shares of Zscaler by 76,352.6% during the third quarter. Groupama Asset Managment now owns 4,750,000 shares of the company's stock valued at $1,423,385,000 after purchasing an additional 4,743,787 shares during the last quarter. State Street Corp raised its holdings in shares of Zscaler by 4.5% during the third quarter. State Street Corp now owns 2,259,804 shares of the company's stock valued at $677,173,000 after purchasing an additional 97,366 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Zscaler by 9.5% during the third quarter. First Trust Advisors LP now owns 2,228,134 shares of the company's stock valued at $667,682,000 after purchasing an additional 193,281 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Zscaler by 61.8% during the third quarter. AQR Capital Management LLC now owns 1,941,571 shares of the company's stock valued at $576,083,000 after purchasing an additional 741,756 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ZS shares. Cantor Fitzgerald reissued an "overweight" rating on shares of Zscaler in a report on Wednesday. Wells Fargo & Company raised shares of Zscaler from an "overweight" rating to an "overweight" rating in a report on Monday. Mizuho decreased their price objective on shares of Zscaler from $265.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, February 27th. KeyCorp boosted their price objective on shares of Zscaler from $160.00 to $190.00 and gave the company an "overweight" rating in a report on Monday. Finally, UBS Group reissued a "buy" rating on shares of Zscaler in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $261.26.

Insider Buying and Selling at Zscaler

In other Zscaler news, insider Robert Schlossman sold 2,263 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $156.59, for a total transaction of $354,363.17. Following the completion of the sale, the insider directly owned 72,390 shares of the company's stock, valued at approximately $11,335,550.10. This represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James A. Beer sold 177 shares of the company's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $153.53, for a total transaction of $27,174.81. Following the sale, the director directly owned 4,384 shares of the company's stock, valued at approximately $673,075.52. This represents a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,130 shares of company stock valued at $1,892,487 in the last quarter. Insiders own 17.20% of the company's stock.

Key Zscaler News

Here are the key news stories impacting Zscaler this week:

• Positive Sentiment: B.Riley upgraded Zscaler from Neutral to Buy, which helped fuel a strong rally as investors responded to the more constructive analyst view. Why Is Zscaler (ZS) Stock Soaring Today
• Positive Sentiment: Zscaler reported stronger-than-expected quarterly results, raised full-year guidance, and highlighted growing demand tied to AI security and zero-trust adoption, supporting the stock’s recent rebound. Why Zscaler (ZS) Is Up 19.9% After Strong Results And New AI-Focused Zero-Trust Push
• Positive Sentiment: The company launched Project AI-Guardian with major global system integrators, expanding its AI security push and giving investors another catalyst for enterprise adoption. Zscaler Partners with Global System Integrators to Launch Project AI-Guardian to Help Accelerate Enterprise AI Adoption
• Positive Sentiment: UBS said Zscaler has a positive setup into upcoming earnings, while Oppenheimer said results are likely to be balanced to slightly above plan, suggesting expectations are manageable. Zscaler Setup Looks Positive Into Upcoming Earnings, UBS Says
• Neutral Sentiment: IGEL and Zscaler released healthcare security blueprints, a supportive partnership announcement that adds to the company’s broader product and ecosystem momentum. IGEL and Zscaler Release Healthcare Security Blueprints for Distributed Care Delivery
• Neutral Sentiment: Some commentary noted mixed signals from estimate revisions and relative performance versus peers, which could limit upside if earnings do not surprise meaningfully. Zscaler (ZS) Soars 8.5%: Is Further Upside Left in the Stock?

Zscaler Stock Down 0.5%

Shares of ZS stock opened at $174.45 on Thursday. Zscaler, Inc. has a 12 month low of $114.63 and a 12 month high of $336.99. The stock has a market cap of $28.05 billion, a P/E ratio of -415.36 and a beta of 0.96. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.78. The company has a 50 day simple moving average of $143.66 and a two-hundred day simple moving average of $196.87.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.12. Zscaler had a negative net margin of 2.25% and a positive return on equity of 0.06%. The business had revenue of $815.75 million during the quarter, compared to analysts' expectations of $798.92 million. During the same period in the prior year, the company earned $0.78 earnings per share. The firm's revenue was up 25.9% on a year-over-year basis. Zscaler has set its Q3 2026 guidance at 1.000-1.010 EPS and its FY 2026 guidance at 3.990-4.020 EPS. On average, research analysts expect that Zscaler, Inc. will post -0.03 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.

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