Zscaler, Inc. $ZS Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its Zscaler stake by 49.5% in the third quarter, selling 1,041,853 shares; it retained 1,062,768 shares, valued at about $211.9 million. Institutional investors and hedge funds collectively own 46.45% of the company.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $236.65; 36 analysts rate the stock a Buy, eight a Hold, and one a Sell.
• Zscaler’s latest reported quarter beat estimates, with EPS of $1.19 and revenue of $898.2 million, up 24.9% year over year. Shares opened at $197.66, below the 50-day moving average of $208.01.

Pictet Asset Management Holding SA lessened its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 49.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,062,768 shares of the company's stock after selling 1,041,853 shares during the period. Pictet Asset Management Holding SA owned 0.65% of Zscaler worth $211,910,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Handelsbanken Fonder AB boosted its stake in shares of Zscaler by 89.6% in the second quarter. Handelsbanken Fonder AB now owns 60,933 shares of the company's stock valued at $8,601,000 after buying an additional 28,792 shares during the period. Assenagon Asset Management S.A. grew its position in Zscaler by 6.6% during the second quarter. Assenagon Asset Management S.A. now owns 193,297 shares of the company's stock worth $27,284,000 after buying an additional 11,941 shares in the last quarter. Bank of America Corp DE grew its position in Zscaler by 44.3% during the first quarter. Bank of America Corp DE now owns 779,245 shares of the company's stock worth $109,320,000 after buying an additional 239,326 shares in the last quarter. Krilogy Financial LLC increased its stake in Zscaler by 163.0% during the 3rd quarter. Krilogy Financial LLC now owns 11,008 shares of the company's stock worth $2,195,000 after acquiring an additional 6,822 shares during the period. Finally, Danica Pension Livsforsikringsaktieselskab bought a new position in Zscaler during the 2nd quarter worth $11,232,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Trending Headlines about Zscaler

Here are the key news stories impacting Zscaler this week:

• Positive Sentiment: Zscaler’s zero-trust security model could benefit from organizations modernizing remote access and protecting operational technology. Recent coverage described a customer’s VPN transition and discussed why OT environments need broader zero-trust protections; these are industry-use-case signals, not disclosed material deals. Zscaler Sales Engineer Interview Zscaler’s Nathan Howe on OT Zero Trust
• Neutral Sentiment: A comparison with Palo Alto Networks highlighted Zscaler’s cloud-native zero-trust presence among Fortune 500 companies, while noting Palo Alto’s push to bundle security services into a broader platform. This underscores Zscaler’s established position as well as competitive pressure. Palo Alto Networks vs. Zscaler
• Neutral Sentiment: Zscaler scheduled its fiscal 2027 first-quarter results and investor call for December 2, giving investors the next key opportunity to assess growth and outlook; the announcement itself provided no new financial results. Zscaler earnings call announcement
• Negative Sentiment: Recent selling has weighed on ZS alongside declines in other cybersecurity and software names. Coverage reported a 9.16% fall in the latest session and a 14% weekly decline, suggesting broad sector pressure is a near-term headwind. One analysis cited an average analyst price target of $235, but that is an estimate, not a near-term catalyst. Zscaler’s recent decline and analyst targets Why Zscaler dipped

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ZS shares. UBS Group lifted their price objective on Zscaler from $225.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, October 7th. Rosenblatt Securities set a $250.00 target price on Zscaler in a report on Wednesday, October 7th. KeyCorp raised their price target on Zscaler from $185.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, August 21st. Truist Financial restated a "buy" rating and issued a $250.00 price target (up from $200.00) on shares of Zscaler in a research report on Wednesday, October 7th. Finally, JPMorgan Chase & Co. boosted their price target on Zscaler from $215.00 to $245.00 and gave the company an "overweight" rating in a research note on Wednesday, October 7th. Thirty-six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Zscaler currently has an average rating of "Moderate Buy" and an average target price of $236.65.

Insiders Place Their Bets

In related news, CFO Kevin Rubin sold 514 shares of the firm's stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $259.15, for a total value of $133,203.10. Following the sale, the chief financial officer directly owned 62,113 shares of the company's stock, valued at $16,096,583.95. This trade represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James Beer sold 177 shares of Zscaler stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $192.01, for a total value of $33,985.77. Following the completion of the transaction, the director owned 4,030 shares in the company, valued at approximately $773,800.30. This represents a 4.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 55,105 shares of company stock valued at $11,563,836 in the last quarter. Corporate insiders own 17.20% of the company's stock.

Zscaler Stock Down 3.1%

Shares of ZS opened at $197.66 on Friday. Zscaler, Inc. has a one year low of $114.63 and a one year high of $333.90. The company has a market cap of $32.23 billion, a P/E ratio of -506.82, a P/E/G ratio of 18.79 and a beta of 0.82. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.70 and a quick ratio of 1.70. The firm has a 50 day simple moving average of $208.01 and a two-hundred day simple moving average of $167.67.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its earnings results on Thursday, September 3rd. The company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.10. Zscaler had a positive return on equity of 1.23% and a negative net margin of 1.88%. The firm had revenue of $898.19 million for the quarter, compared to the consensus estimate of $876.96 million. During the same quarter last year, the business posted $0.89 EPS. The company's revenue was up 24.9% compared to the same quarter last year. Zscaler has set its FY 2027 guidance at 4.860-4.900 EPS and its Q1 2027 guidance at 1.150-1.160 EPS. Research analysts forecast that Zscaler, Inc. will post 0.70 EPS for the current fiscal year.

About Zscaler

Zscaler, Inc is a cloud security company that provides services designed to help organizations protect users, applications, and data. Its platform, the Zscaler Zero Trust Exchange, connects users and devices to applications while applying security controls, rather than relying on traditional network boundaries.

The company's offerings include Zscaler Internet Access for securing internet and software-as-a-service traffic, and Zscaler Private Access for providing secure access to private applications.

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