Zscaler, Inc. $ZS Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia cut its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 33.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,915 shares of the company's stock after selling 9,880 shares during the period. Bank of Nova Scotia's holdings in Zscaler were worth $2,794,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Binnacle Investments Inc purchased a new stake in Zscaler in the 3rd quarter valued at $25,000. AlphaCentric Advisors LLC purchased a new position in Zscaler during the 4th quarter worth $29,000. University of Texas Texas AM Investment Management Co. acquired a new position in Zscaler in the fourth quarter valued at $30,000. Mcguire Capital Advisors Inc. acquired a new position in Zscaler in the fourth quarter valued at $32,000. Finally, Family CFO Inc purchased a new stake in shares of Zscaler in the fourth quarter valued at about $34,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Stock Performance

Shares of ZS opened at $151.63 on Wednesday. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.72. Zscaler, Inc. has a 52-week low of $114.63 and a 52-week high of $336.99. The company has a 50-day simple moving average of $142.04 and a 200-day simple moving average of $155.30. The company has a market capitalization of $24.52 billion, a PE ratio of -315.89, a P/E/G ratio of 84.41 and a beta of 0.96.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings data on Tuesday, May 26th. The company reported $1.08 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.07. Zscaler had a negative net margin of 2.44% and a negative return on equity of 0.37%. The firm had revenue of $850.48 million for the quarter, compared to the consensus estimate of $835.14 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The firm's revenue was up 25.4% on a year-over-year basis. Zscaler has set its Q4 2026 guidance at 1.080-1.090 EPS and its FY 2026 guidance at 4.100-4.110 EPS. Equities research analysts predict that Zscaler, Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

ZS has been the subject of several recent research reports. Citigroup reiterated a "market outperform" rating on shares of Zscaler in a research note on Wednesday, May 27th. Wells Fargo & Company dropped their price target on Zscaler from $210.00 to $180.00 and set an "overweight" rating on the stock in a research report on Thursday, May 28th. Citizens Jmp reduced their price objective on Zscaler from $290.00 to $210.00 and set a "market outperform" rating for the company in a research note on Friday, May 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $180.00 price objective on shares of Zscaler in a research report on Wednesday, June 10th. Finally, Stifel Nicolaus lowered their target price on Zscaler from $180.00 to $175.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. Thirty-four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Zscaler presently has an average rating of "Moderate Buy" and a consensus price target of $214.21.

Insider Activity at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,878 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $126.43, for a total transaction of $363,865.54. Following the sale, the chief executive officer owned 343,038 shares of the company's stock, valued at $43,370,294.34. The trade was a 0.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Robert Schlossman sold 3,146 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $126.43, for a total value of $397,748.78. Following the sale, the insider directly owned 69,366 shares in the company, valued at $8,769,943.38. This trade represents a 4.34% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 16,269 shares of company stock valued at $2,052,589 in the last 90 days. Insiders own 17.20% of the company's stock.

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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