Campbell & CO Investment Adviser LLC Acquires New Holdings in Zscaler, Inc. $ZS

Campbell & CO Investment Adviser LLC bought a new stake in Zscaler, Inc. (NASDAQ:ZS) during the 3rd quarter, Holdings Channel.com reports. The fund bought 7,454 shares of the company’s stock, valued at approximately $2,234,000.

A number of other large investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB boosted its holdings in shares of Zscaler by 45.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,928 shares of the company’s stock valued at $578,000 after buying an additional 606 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Zscaler by 12.8% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 25,620 shares of the company’s stock worth $7,677,000 after acquiring an additional 2,900 shares in the last quarter. Arcadia Investment Management Corp MI lifted its position in Zscaler by 8.8% during the third quarter. Arcadia Investment Management Corp MI now owns 33,616 shares of the company’s stock valued at $10,073,000 after acquiring an additional 2,715 shares during the last quarter. Eastern Bank lifted its position in Zscaler by 59.2% during the third quarter. Eastern Bank now owns 1,345 shares of the company’s stock valued at $403,000 after acquiring an additional 500 shares during the last quarter. Finally, Kera Capital Partners Inc. boosted its stake in Zscaler by 65.4% in the third quarter. Kera Capital Partners Inc. now owns 1,596 shares of the company’s stock valued at $478,000 after acquiring an additional 631 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Zscaler Price Performance

Shares of 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 business’s 50 day moving average price is $247.65 and its 200 day moving average price is $277.88. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.86. The firm has a market cap of $34.12 billion, a P/E ratio of -822.97, a P/E/G ratio of 3,461.02 and a beta of 1.02.

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

Insider Buying and Selling

In other Zscaler news, Director James A. Beer sold 653 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $226.72, for a total transaction of $148,048.16. Following the sale, the director directly owned 3,485 shares of the company’s stock, valued at approximately $790,119.20. This trade represents a 15.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Rubin sold 3,303 shares of Zscaler stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $230.82, for a total value of $762,398.46. Following the transaction, the chief financial officer owned 48,161 shares of the company’s stock, valued at $11,116,522.02. The trade was a 6.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 22,550 shares of company stock valued at $5,511,509 in the last 90 days. 17.20% of the stock is currently owned by insiders.

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 Analyst Weigh In

Several analysts have recently commented on ZS shares. JPMorgan Chase & Co. increased their price objective on Zscaler from $351.00 to $354.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Bank of America lowered their price target on Zscaler from $355.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Zscaler in a report on Wednesday, October 8th. Needham & Company LLC decreased their price objective on shares of Zscaler from $350.00 to $310.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Finally, Capital One Financial set a $320.00 target price on shares of Zscaler and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and a consensus target price of $317.63.

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.