Oak Ridge Investments LLC Acquires 21,056 Shares of Zscaler, Inc. $ZS

Oak Ridge Investments LLC boosted its holdings in Zscaler, Inc. (NASDAQ:ZS) by 1,623.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,353 shares of the company’s stock after buying an additional 21,056 shares during the period. Oak Ridge Investments LLC’s holdings in Zscaler were worth $6,698,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ZS. Brookstone Capital Management acquired a new position in shares of Zscaler in the 2nd quarter valued at approximately $283,000. VestGen Advisors LLC bought a new position in Zscaler in the second quarter valued at approximately $1,592,000. Mackenzie Financial Corp boosted its holdings in shares of Zscaler by 133.6% in the second quarter. Mackenzie Financial Corp now owns 14,780 shares of the company’s stock valued at $4,640,000 after buying an additional 8,454 shares during the period. Schroder Investment Management Group increased its position in shares of Zscaler by 11.5% during the second quarter. Schroder Investment Management Group now owns 164,061 shares of the company’s stock worth $51,505,000 after acquiring an additional 16,868 shares in the last quarter. Finally, Ensign Peak Advisors Inc raised its holdings in shares of Zscaler by 9.9% during the second quarter. Ensign Peak Advisors Inc now owns 395,391 shares of the company’s stock worth $124,129,000 after acquiring an additional 35,770 shares during the period. 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: KeyCorp reiterated an Overweight view and published detailed FY2026–FY2027 EPS forecasts (Q2–Q4 cadence and FY targets), supporting a higher-valuation thesis and giving investors modeled upside. What is KeyCorp’s Forecast for Zscaler Q1 Earnings?
• Positive Sentiment: Seeking Alpha reports that Zscaler’s growth path is “clearer and stronger”: GTM improvements, platform deals, Z-Flex customer consolidation, and AI & Data Security are now material growth engines (AI security >80% y/y; Data Security ARR ~ $450M) — a narrative that supports re-rating if execution continues. Zscaler: Growth Path Ahead Has Gotten Clearer And Stronger
• Neutral Sentiment: Zacks highlights heightened investor interest in ZS and outlines key facts investors are watching — a sign that stock moves may be driven partly by attention/flows as well as fundamentals. Zscaler, Inc. (ZS) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Analysis comparing Zscaler to Netskope frames this as a strategic AI-cybersecurity battle; such comparisons underline competitive risk but also validate market opportunity — important context for investors evaluating relative positioning. Zscaler Vs. Netskope: The Battle For The AI Cybersecurity Edge
• Negative Sentiment: Citigroup trimmed its price target to $305, which could cap near-term upside and introduce headwinds if investors re-price growth expectations versus peers. Citigroup Lowers Zscaler (NASDAQ:ZS) Price Target to $305.00
• Negative Sentiment: A Seeking Alpha piece with a “wouldn’t pull the trigger just yet” stance (despite a rating upgrade) injects caution — flagging valuation, timing, or execution risks that may make some investors hesitant to add here. Zscaler: I Wouldn’t Pull The Trigger Just Yet (Rating Upgrade)
• Negative Sentiment: A Zacks note on a recent intraday dip explains price sensitivity to earnings/guide cadence and broader market moves — a reminder that volatility remains a factor for ZS. Why Zscaler (ZS) Dipped More Than Broader Market Today

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ZS shares. Berenberg Bank lowered their target price on Zscaler from $400.00 to $390.00 and set a “buy” rating for the company in a report on Friday, November 28th. UBS Group reduced their price objective on Zscaler from $350.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Morgan Stanley set a $305.00 target price on Zscaler in a research report on Thursday, December 18th. Robert W. Baird upped their price target on Zscaler from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. Finally, Stifel Nicolaus decreased their price target on shares of Zscaler from $330.00 to $320.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $317.63.

Insider Buying and Selling

In related news, insider Adam Geller sold 1,620 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $232.79, for a total transaction of $377,119.80. Following the transaction, the insider owned 50,528 shares in the company, valued at $11,762,413.12. The trade was a 3.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Schlossman sold 2,349 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $232.79, for a total transaction of $546,823.71. Following the completion of the sale, the insider owned 74,653 shares of the company’s stock, valued at $17,378,471.87. The trade was a 3.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,550 shares of company stock worth $5,511,509 over the last ninety days. 17.20% of the stock is owned by company insiders.

Zscaler Trading Up 1.6%

NASDAQ:ZS opened at $213.98 on Friday. Zscaler, Inc. has a 52 week low of $164.78 and a 52 week high of $336.99. The firm’s fifty day moving average is $247.65 and its 200-day moving average is $277.67. The firm has a market cap of $34.12 billion, a P/E ratio of -822.97, a P/E/G ratio of 3,516.94 and a beta of 1.02. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.82 and a current ratio of 1.82.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, November 25th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.11. The business had revenue of $788.11 million for the quarter, compared to analyst estimates of $773.86 million. Zscaler had a negative net margin of 1.45% and a negative return on equity of 0.12%. Zscaler’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. Zscaler has set its FY 2026 guidance at 3.780-3.820 EPS and its Q2 2026 guidance at 0.890-0.900 EPS. Equities analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current year.

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.