M&T Bank Corp lifted its position in Zscaler, Inc. (NASDAQ:ZS – Free Report) by 10,380.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 239,693 shares of the company’s stock after acquiring an additional 237,406 shares during the period. M&T Bank Corp’s holdings in Zscaler were worth $53,912,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Binnacle Investments Inc bought a new position in Zscaler during the 3rd quarter valued at approximately $25,000. Tradewinds Capital Management LLC increased its position in Zscaler by 145.7% during the 3rd quarter. Tradewinds Capital Management LLC now owns 86 shares of the company’s stock valued at $26,000 after buying an additional 51 shares in the last quarter. Root Financial Partners LLC bought a new position in Zscaler during the 3rd quarter valued at approximately $26,000. McIlrath & Eck LLC bought a new position in Zscaler during the 3rd quarter valued at approximately $29,000. Finally, Picton Mahoney Asset Management bought a new position in Zscaler during the 3rd quarter valued at approximately $30,000. Institutional investors own 46.45% of the company’s stock.
Analyst Upgrades and Downgrades
ZS has been the subject of a number of analyst reports. Stephens reduced their price objective on Zscaler from $340.00 to $225.00 and set an “overweight” rating for the company in a research report on Monday, February 23rd. The Goldman Sachs Group reduced their price objective on Zscaler from $290.00 to $257.00 and set a “neutral” rating for the company in a research report on Monday, March 2nd. Robert W. Baird reduced their price objective on Zscaler from $360.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, February 23rd. JPMorgan Chase & Co. reduced their price objective on Zscaler from $354.00 to $267.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zscaler in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Zscaler presently has a consensus rating of “Moderate Buy” and an average target price of $265.58.
Insiders Place Their Bets
In other Zscaler news, EVP Raj Judge sold 2,488 shares of Zscaler stock in a transaction on 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 owned 67,906 shares of the company’s stock, valued at approximately $10,633,400.54. This trade represents a 3.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Rubin sold 1,682 shares of Zscaler stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $156.59, for a total value of $263,384.38. Following the completion of the sale, the chief financial officer directly owned 46,479 shares of the company’s stock, valued at approximately $7,278,146.61. The trade was a 3.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 12,130 shares of company stock worth $1,892,487. 17.20% of the stock is owned by corporate insiders.
Zscaler Stock Up 2.2%
Zscaler stock opened at $142.66 on Thursday. The firm has a market cap of $22.94 billion, a price-to-earnings ratio of -339.67 and a beta of 1.12. The stock has a fifty day simple moving average of $148.36 and a two-hundred day simple moving average of $218.17. Zscaler, Inc. has a 12 month low of $114.63 and a 12 month high of $336.99. The company has a current ratio of 1.90, a quick 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 analysts’ consensus estimates of $0.89 by $0.12. The business had revenue of $815.75 million during the quarter, compared to analyst estimates of $798.92 million. Zscaler had a positive return on equity of 0.06% and a negative net margin of 2.25%.The company’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter last year, the company 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. Equities analysts predict that Zscaler, Inc. will post -0.03 EPS for the current fiscal year.
Key Zscaler News
Here are the key news stories impacting Zscaler this week:
- Positive Sentiment: Zscaler won the 2026 Google Cloud Partner of the Year Award for Security, highlighting its role in AI security and Zero Trust integrations with Google Cloud — a clear channel for growth and enterprise adoption. Zscaler’s Google Cloud Award Spotlights AI Security And Zero Trust Growth
- Positive Sentiment: Cybersecurity stocks (including Zscaler) have seen renewed buying as analysts anticipate AI model adoption to drive security spending; Zscaler previously jumped on that sector rebound, reflecting investor appetite for AI-security exposure. Zscaler (ZS) Stock Is Up, What You Need To Know
- Neutral Sentiment: Market coverage pieces note Zscaler’s recent outperformance vs. the market and continued investor interest; these reports mainly summarize price moves and attention rather than new fundamentals. Zscaler (ZS) Surpasses Market Returns: Some Facts Worth Knowing
- Neutral Sentiment: Trending/attention articles (Zacks/Yahoo) show higher retail and analyst interest, which can amplify moves but are not direct catalysts on their own. Is Trending Stock Zscaler, Inc. (ZS) a Buy Now?
- Negative Sentiment: Morgan Stanley downgraded Zscaler from Overweight to Equal Weight and cut its price target to $155 from $200, signaling less conviction in near-term upside and likely tempering institutional demand. Benzinga (Downgrade Report)
- Negative Sentiment: Morgan Stanley also flagged limited platform expansion outside ZIA/ZPA, a reminder that product breadth and cross-sell are areas investors will watch for sustained revenue acceleration. Zscaler Shows Limited Platform Expansion as ZIA, ZPA Remain Growth Engine, Morgan Stanley Says
Zscaler 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.
Further Reading
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