Allegiance Financial Group Advisory Services LLC Makes New $525,000 Investment in Zscaler, Inc. $ZS

Posted by Brenda Bartman on Nov 7th, 2026

Allegiance Financial Group Advisory Services LLC purchased a new stake in Zscaler, Inc. (NASDAQ:ZS – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,635 shares of the company’s stock, valued at approximately $525,000.

Several other large investors have also bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Zscaler during the second quarter valued at about $1,396,028,000. First Trust Advisors LP lifted its stake in shares of 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 purchasing an additional 935,781 shares during the period. Amundi lifted its stake in Zscaler by 12.8% during the second quarter. Amundi now owns 1,137,837 shares of the company’s stock worth $160,606,000 after purchasing an additional 129,563 shares in the last quarter. Wellington Management Group LLP raised its holdings in Zscaler by 23.5% during the second quarter. Wellington Management Group LLP now owns 1,103,212 shares of the company’s stock worth $155,718,000 after purchasing an additional 209,711 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Zscaler by 23,646.1% in the 3rd quarter. International Assets Investment Management LLC now owns 606,000 shares of the company’s stock valued at $120,849,000 after purchasing an additional 603,448 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ZS shares. Wedbush upped their target price on shares of Zscaler from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, October 7th. Canaccord Genuity Group lifted their price objective on shares of Zscaler from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 7th. Roth Capital reiterated a “neutral” rating and issued a $170.00 target price on shares of Zscaler in a research report on Saturday, September 5th. Truist Financial reiterated a “buy” rating and issued a $250.00 price target (up from $200.00) on shares of Zscaler in a research note on Wednesday, October 7th. Finally, Yorkville Ives began coverage on shares of Zscaler in a research report on Tuesday, October 6th. They set an “outperform” rating and a $250.00 target price for the company. Thirty-six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $236.65.

Get Our Latest Stock Analysis on ZS

Insider Buying and Selling at Zscaler

In other news, CFO Kevin Rubin sold 5,957 shares of Zscaler stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $192.76, for a total value of $1,148,271.32. Following the transaction, the chief financial officer owned 43,287 shares of the company’s stock, valued at $8,344,002.12. This trade represents a 12.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jagtar Chaudhry sold 2,852 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $192.76, for a total value of $549,751.52. Following the sale, the chief executive officer owned 340,186 shares of the company’s stock, valued at approximately $65,574,253.36. This represents a 0.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 55,105 shares of company stock valued at $11,563,836 in the last 90 days. Insiders own 17.20% of the company’s stock.

Zscaler Trading Down 3.1%

Shares of ZS opened at $197.66 on Friday. The stock has a market cap of $32.23 billion, a price-to-earnings ratio of -506.82, a price-to-earnings-growth ratio of 21.28 and a beta of 0.82. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.70 and a quick ratio of 1.70. Zscaler, Inc. has a 1-year low of $114.63 and a 1-year high of $333.90. The firm has a 50 day simple moving average of $208.01 and a 200-day simple moving average of $167.67.

Zscaler (NASDAQ:ZS – Get Free Report) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.10. The business had revenue of $898.19 million during the quarter, compared to analysts’ expectations of $876.96 million. Zscaler had a negative net margin of 1.88% and a positive return on equity of 1.23%. Zscaler’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 earnings per share. Zscaler has set its FY 2027 guidance at 4.860-4.900 EPS and its Q1 2027 guidance at 1.150-1.160 EPS. Equities analysts forecast that Zscaler, Inc. will post 0.70 EPS for the current fiscal year.

Key Stories Impacting Zscaler

Here are the key news stories impacting Zscaler this week:

Positive Sentiment: Zscaler’s zero-trust security model could benefit from organizations modernizing remote access and protecting operational technology. Recent coverage described a customer’s VPN transition and discussed why OT environments need broader zero-trust protections; these are industry-use-case signals, not disclosed material deals. Zscaler Sales Engineer Interview Zscaler’s Nathan Howe on OT Zero Trust
Neutral Sentiment: A comparison with Palo Alto Networks highlighted Zscaler’s cloud-native zero-trust presence among Fortune 500 companies, while noting Palo Alto’s push to bundle security services into a broader platform. This underscores Zscaler’s established position as well as competitive pressure. Palo Alto Networks vs. Zscaler
Neutral Sentiment: Zscaler scheduled its fiscal 2027 first-quarter results and investor call for December 2, giving investors the next key opportunity to assess growth and outlook; the announcement itself provided no new financial results. Zscaler earnings call announcement
Negative Sentiment: Recent selling has weighed on ZS alongside declines in other cybersecurity and software names. Coverage reported a 9.16% fall in the latest session and a 14% weekly decline, suggesting broad sector pressure is a near-term headwind. One analysis cited an average analyst price target of $235, but that is an estimate, not a near-term catalyst. Zscaler’s recent decline and analyst targets Why Zscaler dipped

Zscaler Profile

(Free Report)

Zscaler, Inc is a cloud security company that provides services designed to help organizations protect users, applications, and data. Its platform, the Zscaler Zero Trust Exchange, connects users and devices to applications while applying security controls, rather than relying on traditional network boundaries.

The company’s offerings include Zscaler Internet Access for securing internet and software-as-a-service traffic, and Zscaler Private Access for providing secure access to private applications.