Jennison Associates LLC Sells 30,289 Shares of Zscaler, Inc. $ZS

Key Points

• Jennison Associates LLC cut its Zscaler stake by 26.2%, selling 30,289 shares and now holding 85,099 shares worth about $19.14 million; institutional investors collectively own roughly 46.45% of the company.
• Company insiders have been net sellers recently — including EVP Raj Judge and Adam Geller — with a total of 12,130 shares sold (~$1.89 million) over the last 90 days, while insiders still own 17.20% of the stock.
• Zscaler beat quarterly estimates (EPS $1.01 vs. $0.89 est., revenue $815.8M, +25.9% YoY) and issued FY/Q3 guidance, but the stock trades near $140 (50-day MA $143.64, 200-day MA $210.85) and carries a MarketBeat consensus of "Moderate Buy" with an average price target of $263.46.

Jennison Associates LLC lessened its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 26.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 85,099 shares of the company's stock after selling 30,289 shares during the quarter. Jennison Associates LLC owned 0.05% of Zscaler worth $19,141,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ZS. Integrated Wealth Concepts LLC increased its stake in shares of Zscaler by 19.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,439 shares of the company's stock valued at $285,000 after purchasing an additional 239 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Zscaler by 8.2% in the 1st quarter. NewEdge Advisors LLC now owns 4,899 shares of the company's stock valued at $972,000 after acquiring an additional 370 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Zscaler by 9.2% in the 1st quarter. Empowered Funds LLC now owns 2,811 shares of the company's stock valued at $558,000 after acquiring an additional 238 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Zscaler in the 2nd quarter valued at $252,000. Finally, Jump Financial LLC bought a new position in shares of Zscaler in the 2nd quarter valued at $3,019,000. Institutional investors own 46.45% of the company's stock.

Insider Buying and Selling

In other news, EVP Raj Judge sold 2,488 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $156.59, for a total value of $389,595.92. Following the completion of the sale, the executive vice president directly owned 67,906 shares in the company, valued at $10,633,400.54. This trade represents a 3.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Adam Geller sold 2,094 shares of the firm's stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $153.53, for a total value of $321,491.82. Following the completion of the sale, the insider owned 46,949 shares of the company's stock, valued at approximately $7,208,079.97. This represents a 4.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,130 shares of company stock worth $1,892,487 over the last 90 days. 17.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on ZS shares. Rosenblatt Securities restated a "buy" rating and issued a $280.00 price objective on shares of Zscaler in a report on Tuesday, February 24th. JPMorgan Chase & Co. decreased their price objective on Zscaler from $354.00 to $267.00 and set an "overweight" rating for the company in a report on Friday, February 20th. Canaccord Genuity Group decreased their price objective on Zscaler from $340.00 to $275.00 and set a "buy" rating for the company in a report on Friday, February 27th. Cantor Fitzgerald decreased their price objective on Zscaler from $365.00 to $300.00 and set an "overweight" rating for the company in a report on Tuesday, February 24th. Finally, TD Cowen decreased their price target on Zscaler from $330.00 to $260.00 and set a "buy" rating for the company in a report on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $263.46.

Zscaler Stock Performance

Shares of Zscaler stock opened at $139.81 on Friday. 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 business has a 50-day moving average price of $143.64 and a two-hundred day moving average price of $210.85. Zscaler, Inc. has a 1-year low of $114.63 and a 1-year high of $336.99. The company has a market cap of $22.48 billion, a P/E ratio of -332.88 and a beta of 0.97.

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

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