Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes Position in Zscaler, Inc. $ZS

Key Points

• Fideuram Intesa Sanpaolo Private Banking initiated a new position in Zscaler during the fourth quarter, buying 13,511 shares worth about $3.0 million.
• Zscaler has continued to attract major institutional interest, with firms like Vanguard, AQR, and Groupama Asset Managment holding or sharply increasing positions, and institutional ownership now at 46.45%.
• The company’s recent operating news has been favorable: it posted better-than-expected quarterly earnings, raised guidance, and is benefiting from optimism around AI security and zero-trust adoption, while analysts remain generally constructive with a Moderate Buy consensus.

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 13,511 shares of the company's stock, valued at approximately $3,039,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ZS. Groupama Asset Managment raised its stake in shares of Zscaler by 76,352.6% in the 3rd quarter. Groupama Asset Managment now owns 4,750,000 shares of the company's stock valued at $1,423,385,000 after acquiring an additional 4,743,787 shares during the period. AQR Capital Management LLC increased its stake in Zscaler by 61.8% during the 3rd quarter. AQR Capital Management LLC now owns 1,941,571 shares of the company's stock worth $576,083,000 after buying an additional 741,756 shares during the period. Vanguard Group Inc. increased its stake in Zscaler by 6.1% during the 3rd quarter. Vanguard Group Inc. now owns 11,367,903 shares of the company's stock worth $3,406,506,000 after buying an additional 652,771 shares during the period. Alyeska Investment Group L.P. purchased a new stake in Zscaler during the 3rd quarter worth approximately $109,440,000. Finally, Danica Pension Livsforsikringsaktieselskab purchased a new stake in Zscaler during the 3rd quarter worth approximately $88,387,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Zscaler

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?

Insider Buying and Selling

In other Zscaler news, CFO Kevin Rubin sold 1,682 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $156.59, for a total value of $263,384.38. Following the sale, the chief financial officer directly owned 46,479 shares of the company's stock, valued at approximately $7,278,146.61. This represents a 3.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director James A. Beer sold 177 shares of the 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 completion of the sale, the director directly owned 4,384 shares in the company, valued at approximately $673,075.52. This represents a 3.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 12,130 shares of company stock worth $1,892,487. Corporate insiders own 17.20% of the company's stock.

Zscaler Trading Down 0.5%

Shares of NASDAQ:ZS opened at $174.45 on Thursday. Zscaler, Inc. has a 52 week low of $114.63 and a 52 week high of $336.99. The company's 50 day moving average is $143.66 and its two-hundred day moving average is $196.87. 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 market cap of $28.05 billion, a PE ratio of -415.36 and a beta of 0.96.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $815.75 million for the quarter, compared to the consensus estimate of $798.92 million. During the same period in the prior year, the firm posted $0.78 EPS. The company's quarterly revenue was up 25.9% compared to the same quarter last year. Zscaler has set its Q3 2026 guidance at 1.000-1.010 EPS and its FY 2026 guidance at 3.990-4.020 EPS. Equities analysts predict that Zscaler, Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ZS has been the topic of several recent research reports. Robert W. Baird cut their target price on shares of Zscaler from $360.00 to $300.00 and set an "outperform" rating on the stock in a research note on Monday, February 23rd. UBS Group reaffirmed a "buy" rating on shares of Zscaler in a research note on Wednesday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zscaler in a research note on Wednesday. Wells Fargo & Company raised shares of Zscaler from an "overweight" rating to an "overweight" rating in a research note on Monday. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Zscaler in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Zscaler has an average rating of "Moderate Buy" and a consensus price target of $261.26.

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.

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