Pictet Asset Management Holding SA Raises Holdings in Zscaler, Inc. $ZS

Key Points

• Pictet Asset Management raised its stake in Zscaler by 30.1% during Q4 to 1,259,127 shares (about 0.79% of the company), valued at roughly $283.3 million.
• Zscaler beat the latest quarter's estimates with $1.01 EPS (vs. $0.89 expected) and $815.8 million revenue (vs. $798.9 million expected), with revenue up 25.9% year‑over‑year and guidance given for Q3 and FY 2026.
• Analyst sentiment is mixed: the consensus rating is a “Moderate Buy” with an average price target of $265.58, but several firms recently cut targets or downgraded the stock (e.g., KeyCorp to $160, Morgan Stanley to equal‑weight/$155).

Pictet Asset Management Holding SA raised its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 30.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,259,127 shares of the company's stock after purchasing an additional 291,631 shares during the quarter. Pictet Asset Management Holding SA owned 0.79% of Zscaler worth $283,296,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bessemer Group Inc. lifted its position in Zscaler by 3.2% during the third quarter. Bessemer Group Inc. now owns 1,021 shares of the company's stock valued at $306,000 after buying an additional 32 shares in the last quarter. Brookstone Capital Management boosted its position in Zscaler by 3.7% during the 3rd quarter. Brookstone Capital Management now owns 936 shares of the company's stock worth $280,000 after purchasing an additional 33 shares during the period. Wedbush Securities Inc. grew its stake in shares of Zscaler by 0.7% in the third quarter. Wedbush Securities Inc. now owns 5,129 shares of the company's stock valued at $1,537,000 after buying an additional 34 shares in the last quarter. Goldstream Capital Management Ltd increased its stake in Zscaler by 0.3% during the 3rd quarter. Goldstream Capital Management Ltd now owns 12,450 shares of the company's stock worth $3,731,000 after buying an additional 34 shares during the period. Finally, 180 Wealth Advisors LLC increased its holdings in Zscaler by 0.5% during the 3rd quarter. 180 Wealth Advisors LLC now owns 7,897 shares of the company's stock worth $2,366,000 after purchasing an additional 36 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

Analyst Upgrades and Downgrades

ZS has been the subject of a number of recent analyst reports. Rosenblatt Securities reissued a "buy" rating and set a $280.00 price target on shares of Zscaler in a research report on Tuesday, February 24th. Weiss Ratings restated a "sell (d-)" rating on shares of Zscaler in a research note on Wednesday, January 21st. KeyCorp decreased their price target on shares of Zscaler from $220.00 to $160.00 and set an "overweight" rating for the company in a report on Wednesday, April 15th. Stephens cut their target price on shares of Zscaler from $340.00 to $225.00 and set an "overweight" rating on the stock in a report on Monday, February 23rd. Finally, Morgan Stanley lowered Zscaler from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $200.00 to $155.00 in a report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $265.58.

Insider Activity at Zscaler

In other Zscaler news, EVP Raj Judge sold 2,488 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $156.59, for a total transaction of $389,595.92. Following the sale, the executive vice president directly owned 67,906 shares in the company, valued at approximately $10,633,400.54. The trade was a 3.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Schlossman sold 2,263 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The stock was 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,130 shares of company stock worth $1,892,487 in the last ninety days. 17.20% of the stock is currently owned by corporate insiders.

Zscaler Price Performance

ZS stock opened at $135.50 on Monday. The stock has a market cap of $21.79 billion, a PE ratio of -322.62 and a beta of 1.12. The firm's 50-day simple moving average is $146.75 and its 200 day simple moving average is $215.17. Zscaler, Inc. has a fifty-two week low of $114.63 and a fifty-two week high of $336.99. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.78.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.89 by $0.12. The firm had revenue of $815.75 million during the quarter, compared to analysts' expectations of $798.92 million. Zscaler had a negative net margin of 2.25% and a positive return on equity of 0.06%. Zscaler's quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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, sell-side analysts predict that Zscaler, Inc. will post -0.03 EPS for the current year.

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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