Munich Reinsurance Co Stock Corp in Munich Buys New Stake in Zscaler, Inc. $ZS

Key Points

• Munich Re bought a new stake of 6,826 shares in Zscaler valued at about $2.05 million, while other institutions (e.g., Westpac up 919%) have increased holdings and hedge funds/institutions now own about 46.45% of the stock.
• Zscaler beat quarterly estimates with $1.01 EPS (vs. $0.89 expected) and $815.8M revenue, up 25.9% year‑over‑year, and provided Q3 and FY2026 EPS guidance despite still reporting a negative net margin.
• Several analysts have trimmed price targets (consensus target about $267.92) while the stock trades near $164.06; insiders have sold ~19,350 shares in the past 90 days and insiders own 17.2% of the company.

Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,826 shares of the company's stock, valued at approximately $2,045,000.

A number of other institutional investors have also modified their holdings of the stock. Westpac Banking Corp boosted its stake in shares of Zscaler by 919.0% during the 3rd quarter. Westpac Banking Corp now owns 9,986 shares of the company's stock worth $2,992,000 after acquiring an additional 9,006 shares in the last quarter. VestGen Advisors LLC acquired a new position in Zscaler in the 2nd quarter worth about $1,592,000. Mackenzie Financial Corp boosted its position in Zscaler by 133.6% during the second quarter. Mackenzie Financial Corp now owns 14,780 shares of the company's stock worth $4,640,000 after purchasing an additional 8,454 shares in the last quarter. Schroder Investment Management Group grew its holdings in Zscaler by 11.5% in the second quarter. Schroder Investment Management Group now owns 164,061 shares of the company's stock valued at $51,505,000 after purchasing an additional 16,868 shares during the period. Finally, Ensign Peak Advisors Inc grew its holdings in Zscaler by 9.9% in the second quarter. Ensign Peak Advisors Inc now owns 395,391 shares of the company's stock valued at $124,129,000 after purchasing an additional 35,770 shares during the period. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Stock Up 1.3%

ZS stock opened at $164.06 on Friday. Zscaler, Inc. has a one year low of $140.56 and a one year high of $336.99. The firm has a market cap of $26.38 billion, a PE ratio of -390.62 and a beta of 1.07. The firm's 50 day moving average price is $191.63 and its 200-day moving average price is $250.93. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.90 and a current ratio of 1.90.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.12. Zscaler had a positive return on equity of 0.06% and a negative net margin of 2.25%.The company had revenue of $815.75 million during the quarter, compared to analysts' expectations of $798.92 million. During the same quarter last year, the firm earned $0.78 earnings per share. The firm'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. On average, equities research analysts anticipate that Zscaler, Inc. will post -0.1 EPS for the current year.

Insider Activity

In related news, insider Robert Schlossman sold 2,349 shares of the business's stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $232.79, for a total value of $546,823.71. Following the sale, the insider directly owned 74,653 shares in the company, valued at approximately $17,378,471.87. The trade was a 3.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jagtar Singh Chaudhry sold 2,843 shares of the company's stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $230.82, for a total transaction of $656,221.26. Following the completion of the transaction, the chief executive officer directly owned 347,857 shares in the company, valued at $80,292,352.74. The trade was a 0.81% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 19,350 shares of company stock worth $4,471,509. 17.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ZS. BTIG Research decreased their target price on Zscaler from $365.00 to $209.00 and set a "buy" rating on the stock in a research report on Tuesday, February 24th. BMO Capital Markets cut their price target on shares of Zscaler from $315.00 to $210.00 and set an "outperform" rating for the company in a report on Friday, February 27th. TD Cowen decreased their price objective on shares of Zscaler from $330.00 to $260.00 and set a "buy" rating on the stock in a report on Tuesday, February 24th. Barclays set a $220.00 target price on shares of Zscaler in a research report on Thursday, February 19th. Finally, Truist Financial cut their target price on shares of Zscaler from $350.00 to $250.00 and set a "buy" rating for the company in a research note on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $267.92.

More Zscaler News

Here are the key news stories impacting Zscaler this week:

• Positive Sentiment: Zscaler raised fiscal‑2026 revenue/ARR targets and topped quarterly revenue and EPS estimates, which supports continued top‑line growth expectations. Assessing Zscaler (ZS) Valuation After Upbeat Guidance And Fresh Analyst Buy Ratings
• Positive Sentiment: Wells Fargo initiated coverage with an Overweight rating and $200 target, framing the recent pullback as a buying opportunity and helping validate the thesis for institutional investors. Why Wells Fargo Thinks Zscaler (ZS) Can Push Through Recent Noise
• Positive Sentiment: Zscaler is accelerating its enterprise AI security push — launching AI Protect and adding capabilities via acquisitions (SquareX, Red Canary) — which expands addressable market amid rising AI adoption. This product/strategy news supports a longer‑term growth narrative. Zscaler Expands AI Security And Acquisitions To Deepen Cloud Cyber Defense
• Positive Sentiment: High‑profile bullish commentary (e.g., Jim Cramer saying he wouldn’t sell) boosts retail/income investor confidence and can amplify short‑term upside. Jim Cramer on Zscaler: “I Would Not Sell It Here”
• Neutral Sentiment: Options volume is unusually high, signaling elevated trader interest and potential for larger intraday moves or hedging flows; this can amplify volatility but is ambiguous on direction. Zscaler Sees Unusually High Options Volume NASDAQ: ZS
• Negative Sentiment: Despite growth, Zscaler still reported a quarterly net loss and faces valuation risk — analysts note tension between strong growth expectations and profitability/valuation, which could cap upside if execution or multiple re‑rating disappoints. Assessing Zscaler (ZS) Valuation After Upbeat Guidance And Fresh Analyst Buy Ratings

Zscaler Company 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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