Clare Market Investments LLC Has $10.35 Million Stake in Zscaler, Inc. $ZS

Clare Market Investments LLC grew its holdings in Zscaler, Inc. (NASDAQ:ZS) by 61.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,528 shares of the company’s stock after purchasing an additional 13,164 shares during the quarter. Zscaler comprises 2.1% of Clare Market Investments LLC’s portfolio, making the stock its 11th biggest holding. Clare Market Investments LLC’s holdings in Zscaler were worth $10,347,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Erste Asset Management GmbH boosted its stake in Zscaler by 39.2% during the 3rd quarter. Erste Asset Management GmbH now owns 14,545 shares of the company’s stock valued at $4,318,000 after purchasing an additional 4,094 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Zscaler by 43.1% during the third quarter. Handelsbanken Fonder AB now owns 55,907 shares of the company’s stock worth $16,753,000 after buying an additional 16,839 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Zscaler by 4.1% during the third quarter. Xponance Inc. now owns 20,283 shares of the company’s stock worth $6,078,000 after buying an additional 800 shares during the last quarter. DNB Asset Management AS boosted its position in shares of Zscaler by 63.8% in the third quarter. DNB Asset Management AS now owns 33,219 shares of the company’s stock valued at $9,954,000 after acquiring an additional 12,936 shares during the period. Finally, Advisor OS LLC grew its stake in shares of Zscaler by 4.6% in the third quarter. Advisor OS LLC now owns 879 shares of the company’s stock worth $263,000 after acquiring an additional 39 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors.

Zscaler News Roundup

Here are the key news stories impacting Zscaler this week:

• Positive Sentiment: Q2 results beat: adjusted EPS $1.01 vs. $0.89 est., revenue $815.8M vs. ~$799M est., and ARR grew ~25% year/year — signals demand momentum. GlobeNewswire: Q2 Results
• Positive Sentiment: Management is pitching AI security growth and new initiatives (AI Guard, agentic security, India AI/Cyber center with Airtel) as durable secular drivers that expand TAM beyond seat-based SaaS. CFO Interview Airtel AI Center
• Neutral Sentiment: Management issued updated forward guidance and commentary (Q3 EPS range and FY EPS range were provided), creating mixed signals that markets are parsing. Earnings Highlights
• Neutral Sentiment: Executives (CEO & CFO) gave interviews and the full call transcript is available — useful for investors wanting detail on churn, acquisitions and how AI monetization will scale. Earnings Call Transcript
• Negative Sentiment: Wider GAAP loss and higher spending: the company posted a larger net loss driven by increased sales, marketing and R&D, which pressured investor sentiment. Reuters: Wider Loss
• Negative Sentiment: Mixed/uncertain revenue outlook commentary: some outlets reported the company lowered aspects of its revenue outlook, creating confusion and weighing on the stock despite EPS beats. Benzinga: Revenue Guidance Report
• Negative Sentiment: Broad analyst price‑target cuts today from multiple firms (Canaccord, Morgan Stanley, Oppenheimer, Berenberg, Needham, and others) have amplified selling pressure even as many kept “buy/outperform” stances — the cuts compress perception of near‑term upside. MarketScreener: Analyst Cuts
• Negative Sentiment: Market reaction: investors appear to be focusing on margin/expense trajectory, competitive pressure and near-term revenue clarity rather than the company’s AI growth story — producing the stock decline. Seeking Alpha: Market Reaction

Insiders Place Their Bets

In other Zscaler news, insider Adam Geller sold 1,620 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $232.79, for a total value of $377,119.80. Following the transaction, the insider directly owned 50,528 shares in the company, valued at $11,762,413.12. The trade was a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Schlossman sold 2,349 shares of the firm’s stock in a transaction that occurred 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 sale, the insider directly owned 74,653 shares of the company’s stock, valued at approximately $17,378,471.87. The trade was a 3.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,350 shares of company stock worth $4,471,509 in the last quarter. 17.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ZS has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zscaler in a research note on Wednesday, January 21st. Wedbush upped their price objective on shares of Zscaler from $330.00 to $350.00 and gave the company an “outperform” rating in a research report on Monday, November 10th. KeyCorp reduced their target price on shares of Zscaler from $300.00 to $250.00 and set an “overweight” rating for the company in a research note on Tuesday, February 17th. BTIG Research lowered their price target on Zscaler from $365.00 to $209.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Sanford C. Bernstein raised Zscaler from a “market perform” rating to an “outperform” rating and set a $228.00 price target for the company in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $274.37.

Zscaler Trading Down 12.2%

ZS stock opened at $146.99 on Friday. Zscaler, Inc. has a 1-year low of $140.56 and a 1-year high of $336.99. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average is $198.92 and its 200-day moving average is $255.20. The firm has a market cap of $23.44 billion, a P/E ratio of -349.98, a P/E/G ratio of 341.17 and a beta of 1.02.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Thursday, February 26th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.89 by $0.12. Zscaler had a positive return on equity of 0.06% and a negative net margin of 2.25%.The business had revenue of $815.75 million for the quarter, compared to analyst estimates of $798.92 million. During the same quarter in the previous year, the firm earned $0.78 EPS. Zscaler’s quarterly revenue was up 25.9% on a year-over-year basis. 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 anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal 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.