MinichMacGregor Wealth Management LLC Makes New $6.60 Million Investment in Zscaler, Inc. $ZS

MinichMacGregor Wealth Management LLC purchased a new position in Zscaler, Inc. (NASDAQ:ZS) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 33,076 shares of the company’s stock, valued at approximately $6,596,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ZS. BlackRock Inc. purchased a new position in Zscaler in the second quarter valued at approximately $1,396,028,000. First Trust Advisors LP raised its stake in Zscaler by 36.2% in the 1st quarter. First Trust Advisors LP now owns 3,518,678 shares of the company’s stock valued at $493,635,000 after acquiring an additional 935,781 shares during the period. Pictet Asset Management Holding SA boosted its position in Zscaler by 52.5% during the first quarter. Pictet Asset Management Holding SA now owns 1,920,540 shares of the company’s stock worth $269,285,000 after purchasing an additional 661,413 shares during the period. Amundi grew its stake in Zscaler by 12.8% in the 2nd quarter. Amundi now owns 1,137,837 shares of the company’s stock valued at $160,606,000 after buying an additional 129,563 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Zscaler by 23.5% in the second quarter. Wellington Management Group LLP now owns 1,103,212 shares of the company’s stock valued at $155,718,000 after purchasing an additional 209,711 shares in the last quarter. 46.45% of the stock is owned by institutional investors.

Trending Headlines about Zscaler

Here are the key news stories impacting Zscaler this week:

• Positive Sentiment: Investor Day reinforced the long-term growth story: Zscaler reaffirmed its fiscal 2027 guidance and presented a potential path toward approximately $8 billion in annual recurring revenue, with additional upside from AI-driven security demand. Several Wall Street firms subsequently raised their price targets, including Baird, Citizens JMP and TD Cowen. Zscaler gains as investor-day outlook and analyst target hikes support shares
• Positive Sentiment: AI products and international expansion could broaden growth: Analysts point to usage-based offerings, cross-selling opportunities and increasing non-seat-based contract value as potential catalysts. A partner also plans to deploy Zscaler zero-trust solutions across Malaysia’s public sector and government-linked companies. LinkAxia Networks to Deliver Zscaler Zero Trust Security Solutions
• Neutral Sentiment: Investor attention is high, but opinions are mixed: ZS has been heavily searched by investors, while analysts debate whether its sharp three-month rebound is supported by fundamentals. The average analyst view remains positive, but some recent valuation analyses recommend holding after the re-rating. Zscaler: The Best Value in Cybersecurity Already Got Its Re-Rating
• Negative Sentiment: Near-term growth and valuation are the main pressure points: Fiscal 2027 guidance implies a meaningful slowdown from recent revenue growth, while analysts say weak net-new ARR guidance limits upside until management demonstrates acceleration. Seat-based pricing exposure and competitive risks from companies such as CrowdStrike and Palo Alto Networks also remain concerns.
• Negative Sentiment: Insider selling and legal scrutiny weigh on sentiment: Chief Product Officer Adam Geller sold 23,958 shares for approximately $5.4 million and another 1,042 shares for about $246,000 under a pre-arranged Rule 10b5-1 plan. Separately, Pomerantz LLP announced an investigation into potential investor claims; the announcement does not establish wrongdoing. Pomerantz investor alert

Analyst Upgrades and Downgrades

ZS has been the topic of several analyst reports. Citizens Jmp upped their price target on Zscaler from $210.00 to $265.00 and gave the company a “market outperform” rating in a research report on Friday, October 9th. Stephens increased their price objective on Zscaler from $225.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. BTIG Research restated a “neutral” rating on shares of Zscaler in a research report on Wednesday, October 7th. Roth Capital restated a “neutral” rating and issued a $170.00 target price on shares of Zscaler in a research note on Saturday, September 5th. Finally, Cantor Fitzgerald lifted their price target on Zscaler from $225.00 to $275.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Thirty-five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $239.41.

Insiders Place Their Bets

In other Zscaler news, CEO Jagtar Chaudhry sold 2,852 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $192.76, for a total value of $549,751.52. Following the completion of the transaction, the chief executive officer directly owned 340,186 shares in the company, valued at approximately $65,574,253.36. This represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevin Rubin sold 5,957 shares of Zscaler stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $192.76, for a total transaction of $1,148,271.32. Following the sale, the chief financial officer directly owned 43,287 shares in the company, valued at $8,344,002.12. The trade was a 12.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 54,053 shares of company stock worth $11,256,876 in the last ninety days. Insiders own 17.20% of the company’s stock.

Zscaler Trading Down 2.3%

Shares of NASDAQ ZS traded down $5.17 during midday trading on Wednesday, reaching $223.49. The company had a trading volume of 1,381,381 shares, compared to its average volume of 3,356,630. The firm’s fifty day moving average price is $188.89 and its 200-day moving average price is $158.50. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.65. Zscaler, Inc. has a one year low of $114.63 and a one year high of $336.99. The stock has a market cap of $36.44 billion, a PE ratio of -572.43, a price-to-earnings-growth ratio of 21.70 and a beta of 0.94.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.10. The company had revenue of $898.19 million during the quarter, compared to analyst estimates of $876.96 million. Zscaler had a negative net margin of 1.88% and a positive return on equity of 1.23%. The firm’s revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 EPS. Zscaler has set its FY 2027 guidance at 4.860-4.900 EPS and its Q1 2027 guidance at 1.150-1.160 EPS. On average, equities research analysts anticipate that Zscaler, Inc. will post 0.69 earnings per share for the current year.

Zscaler Profile

Zscaler, Inc is a cloud-based cybersecurity company that provides security services designed to help organizations connect users, applications, devices and workloads securely. Its platform is built around a zero-trust security model, which verifies access based on identity, context and policy rather than relying primarily on traditional network perimeters.

The company’s offerings include Zscaler Internet Access, which helps secure internet and software-as-a-service access, and Zscaler Private Access, which provides controlled access to private applications without extending an organization’s network to remote users.