Adam Geller Sells 2,094 Shares of Zscaler (NASDAQ:ZS) Stock

21 Mar 2026, 06:30 by Doug Wharley · The Cerbat Gem

Zscaler, Inc. (NASDAQ:ZS – Get Free Report) insider Adam Geller sold 2,094 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $153.53, for a total value of $321,491.82. Following the completion of the transaction, the insider directly owned 46,949 shares of the company’s stock, valued at approximately $7,208,079.97. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Adam Geller also recently made the following trade(s):

On Tuesday, March 17th, Adam Geller sold 1,485 shares of Zscaler stock. The stock was sold at an average price of $156.59, for a total value of $232,536.15.

Zscaler Price Performance

Shares of ZS stock opened at $151.47 on Friday. The stock’s fifty day simple moving average is $177.87 and its 200 day simple moving average is $242.86. Zscaler, Inc. has a one year low of $140.56 and a one year high of $336.99. The firm has a market cap of $24.35 billion, a price-to-earnings ratio of -360.64 and a beta of 1.07. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.90 and a quick ratio of 1.90.

Zscaler (NASDAQ:ZS – Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.12. The firm had revenue of $815.75 million during the quarter, compared to analyst estimates of $798.92 million. Zscaler had a positive return on equity of 0.06% and a negative net margin of 2.25%.The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 earnings per share. Zscaler has set its Q3 2026 guidance at 1.000-1.010 EPS and its FY 2026 guidance at 3.990-4.020 EPS. On average, analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Key Headlines Impacting Zscaler

Here are the key news stories impacting Zscaler this week:

Positive Sentiment: Zscaler will establish a global headquarters in Santa Clara, signaling long‑term commitment and capacity to scale operations and hiring in a core tech market. Zscaler to establish global headquarters in Santa Clara
Positive Sentiment: Commercial/product wins: Zscaler launched an AI & Cyber Threat Research Center with Bharti Airtel and expanded global data‑sovereignty controls on its Zero Trust Exchange — moves that help win regulated and APAC customers and support ARR growth. Partnership with Bharti Airtel Data sovereignty expansion
Neutral Sentiment: Fundamentals: Zscaler beat February quarterly EPS and revenue estimates and provided FY/Q guidance that kept investors focused on growth vs. margin tradeoffs (guidance supports recurring revenue visibility but AI investments may pressure margins). Company overview & latest results
Negative Sentiment: Unusually heavy put‑option activity — about 47,656 puts traded (~74% above average), indicating elevated bearish positioning and the potential for amplified downside volatility. Options trading alert
Negative Sentiment: Clustered insider selling — multiple Form 4s show CEO, CFO, EVP and other senior insiders sold stock mid‑March. Collectively these sales are being read as a near‑term negative signal, even if for liquidity/tax reasons. SEC insider filing (example)
Negative Sentiment: Analyst pressure and competition — recent price‑target trims (Oppenheimer, BMO, Needham, Piper) and comparisons to CrowdStrike highlight faster ARR/margin momentum at some peers and growing margin pressure from Zscaler’s newer AI offerings, weighing on valuation. Price target coverage Competitive comparison

Hedge Funds Weigh In On Zscaler

A number of large investors have recently modified their holdings of ZS. Rockefeller Capital Management L.P. lifted its stake in shares of Zscaler by 5.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,344 shares of the company’s stock valued at $3,001,000 after acquiring an additional 708 shares during the period. Spear Advisors LLC acquired a new stake in Zscaler in the fourth quarter worth about $3,460,000. EMC Capital Management increased its position in Zscaler by 779.1% in the fourth quarter. EMC Capital Management now owns 3,780 shares of the company’s stock worth $819,000 after purchasing an additional 3,350 shares during the period. Worthington Financial Partners LLC bought a new stake in Zscaler during the 4th quarter worth about $720,000. Finally, Sentinel Dome Partners LLC acquired a new position in Zscaler during the 4th quarter valued at about $990,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ZS. Oppenheimer cut their price target on shares of Zscaler from $280.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, March 10th. Bank of America decreased their price objective on shares of Zscaler from $355.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. TD Cowen cut their target price on shares of Zscaler from $330.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Sanford C. Bernstein raised Zscaler from a “market perform” rating to an “outperform” rating and set a $228.00 target price on the stock in a report on Friday, February 13th. Finally, Truist Financial decreased their price target on Zscaler from $350.00 to $250.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $267.13.

Check Out Our Latest Stock Report on ZS

About Zscaler

(Get Free Report)

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.