Zscaler appoints Kevin Rubin as CFO, succeeding Remo Canessa, to enhance financial leadership during growth and innovation phases.
Quiver AI Summary
Zscaler, Inc. has appointed Kevin Rubin as its new Chief Financial Officer, effective immediately. Rubin will lead the global finance organization and support Zscaler's growth and innovation efforts, succeeding Remo Canessa, who will assist during the transition until the end of fiscal year 2025 before retiring. With over two decades of experience in finance at high-growth tech firms, Rubin previously served as CFO at BetterUp and Alteryx, contributing to significant operational growth and successful IPOs. Zscaler CEO Jay Chaudhry expressed confidence in Rubin's ability to enhance the company's financial strategy amid rising demand for AI security and Zero Trust solutions. Rubin shared his enthusiasm for joining Zscaler, highlighting the company's transformative impact on cybersecurity.
Potential Positives
- Appointment of Kevin Rubin as Chief Financial Officer is a strategic move to scale Zscaler's operations, aligning leadership with the company's growth ambitions.
- Rubin has a strong track record of driving operational excellence and business transformations, which could enhance Zscaler's financial performance and shareholder value.
- Rubin's previous successful experience in leading Alteryx to a $1 billion Annual Recurring Revenue demonstrates potential for similar growth at Zscaler.
- The transition period facilitated by the outgoing CFO, Remo Canessa, ensures a smooth handover, maintaining operational stability during leadership change.
Potential Negatives
- The press release highlights a leadership change, which can create uncertainty and instability during the transition period as the new CFO assumes responsibilities.
- The forward-looking statements introduce risks regarding the company's future performance, indicating that actual results may differ significantly from expectations.
- The mention of factors that could cause actual results to differ materially suggests potential shortcomings in Zscaler’s current strategy or execution, raising questions about future growth potential.
FAQ
Who is the new CFO of Zscaler?
Kevin Rubin has been appointed as the new Chief Financial Officer of Zscaler.
What will Kevin Rubin's role involve at Zscaler?
Rubin will oversee Zscaler's global finance organization and support the company's growth and innovation.
What experience does Kevin Rubin bring to Zscaler?
Rubin has over two decades of financial expertise and leadership in the technology industry.
Who did Kevin Rubin succeed at Zscaler?
Rubin succeeded Remo Canessa, who plans to retire at the end of fiscal year 2025.
What is Zscaler's mission in cybersecurity?
Zscaler aims to empower businesses to securely adopt AI and drive digital transformation with its Zero Trust platform.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ZS Congressional Stock Trading
Members of Congress have traded $ZS stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $ZS stock by members of Congress over the last 6 months:
- REPRESENTATIVE ROBERT BRESNAHAN sold up to $15,000 on 01/13.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$ZS Insider Trading Activity
$ZS insiders have traded $ZS stock on the open market 40 times in the past 6 months. Of those trades, 0 have been purchases and 40 have been sales.
Here’s a breakdown of recent trading of $ZS stock by insiders over the last 6 months:
- AJAY MANGAL has made 0 purchases and 12 sales selling 190,480 shares for an estimated $38,228,210.
- SYAM NAIR (CTO) has made 0 purchases and 3 sales selling 35,982 shares for an estimated $8,642,063.
- ROBERT SCHLOSSMAN (Chief Legal Officer) has made 0 purchases and 16 sales selling 16,528 shares for an estimated $3,473,249.
- REMO CANESSA (Chief Financial Officer) has made 0 purchases and 4 sales selling 10,636 shares for an estimated $2,124,196.
- ANDREW WILLIAM FRASER BROWN sold 10,000 shares for an estimated $2,060,000
- MICHAEL J. RICH (CRO and President of WW Sales) has made 0 purchases and 2 sales selling 7,354 shares for an estimated $1,468,957.
- JAGTAR SINGH CHAUDHRY (CEO & Chairman) has made 0 purchases and 2 sales selling 5,018 shares for an estimated $1,002,674.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$ZS Hedge Fund Activity
We have seen 433 institutional investors add shares of $ZS stock to their portfolio, and 369 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- T. ROWE PRICE INVESTMENT MANAGEMENT, INC. added 2,603,675 shares (+inf%) to their portfolio in Q1 2025, for an estimated $516,621,193
- MARSHALL WACE, LLP added 1,054,589 shares (+266.3%) to their portfolio in Q1 2025, for an estimated $209,251,549
- WELLINGTON MANAGEMENT GROUP LLP added 1,031,462 shares (+488.0%) to their portfolio in Q1 2025, for an estimated $204,662,690
- VIKING GLOBAL INVESTORS LP removed 914,969 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $181,548,148
- POINT72 ASSET MANAGEMENT, L.P. removed 627,896 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $113,278,717
- HSBC HOLDINGS PLC added 617,319 shares (+79.0%) to their portfolio in Q1 2025, for an estimated $122,488,435
- GOLDMAN SACHS GROUP INC added 568,183 shares (+22.9%) to their portfolio in Q1 2025, for an estimated $112,738,870
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$ZS Analyst Ratings
Wall Street analysts have issued reports on $ZS in the last several months. We have seen 11 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Stephens issued a "Overweight" rating on 03/31/2025
- Scotiabank issued a "Outperform" rating on 03/06/2025
- BMO Capital issued a "Outperform" rating on 03/06/2025
- Wedbush issued a "Outperform" rating on 03/06/2025
- Bernstein issued a "Outperform" rating on 03/06/2025
- RBC Capital issued a "Outperform" rating on 03/06/2025
- BTIG issued a "Buy" rating on 03/06/2025
To track analyst ratings and price targets for $ZS, check out Quiver Quantitative's $ZS forecast page.
$ZS Price Targets
Multiple analysts have issued price targets for $ZS recently. We have seen 9 analysts offer price targets for $ZS in the last 6 months, with a median target of $242.0.
Here are some recent targets:
- Gregg Moskowitz from Mizuho Securities set a target price of $250.0 on 05/15/2025
- Taz Koujalgi from Roth Capital set a target price of $215.0 on 04/22/2025
- An analyst from Goldman Sachs set a target price of $207.0 on 03/06/2025
- An analyst from Scotiabank set a target price of $242.0 on 03/06/2025
- An analyst from BMO Capital set a target price of $233.0 on 03/06/2025
- An analyst from UBS set a target price of $260.0 on 03/06/2025
- An analyst from Robert W. Baird set a target price of $250.0 on 03/06/2025
Full Release
SAN JOSE, Calif., May 29, 2025 (GLOBE NEWSWIRE) -- Zscaler, Inc. (NASDAQ: ZS), the leader in cloud security, today announced the appointment of Kevin Rubin as Chief Financial Officer. In his role, Rubin will oversee Zscaler’s global finance organization and play a critical role in scaling the company's operations to support its next phase of growth and innovation.
Rubin brings a wealth of financial expertise and strategic leadership experience in the technology industry, with a strong track record of driving operational excellence, managing business transformations, and delivering shareholder value. He will succeed Remo Canessa, who announced his intention to retire last year. Canessa will remain with Zscaler until the end of the fiscal year 2025 in an advisory capacity to support the transition.
"I am thrilled to welcome Kevin to the Zscaler leadership team during this transformative era of growth," said Jay Chaudhry, Chairman and CEO of Zscaler. "As organizations around the globe embrace AI security and Zero Trust Everywhere for their digital transformation journeys, Kevin's exceptional financial expertise, industry depth, and leadership at scale will be pivotal in driving Zscaler towards $5 billion and beyond in Annual Recurring Revenue. His proven CFO experience will be instrumental as we empower businesses to reimagine secure cloud adoption, harness AI-driven innovation, and shape the future of cybersecurity. I look forward to collaborating closely with Kevin to achieve our goals and further strengthen Zscaler’s leadership in the market."
Rubin brings over two decades of experience leading finance organizations at high-growth public and private companies. Prior to Zscaler he was CFO at BetterUp, where he guided the company’s financial strategy and operational scale. Before that, Rubin served as CFO at Alteryx, where he was responsible for global financial operations, investor relations, corporate development and ventures, real estate, and workplace services. Rubin led the company's successful IPO, and under his leadership, the company’s Annual Recurring Revenue grew to $1 billion. Previously, Rubin served as CFO at MSC Software, Pictage, DDN Storage and MRV Communications, honing a diverse skill set in financial strategy, operations, compliance, and investor relations.
“Zscaler is driving a major paradigm shift in cybersecurity with its unique Zero Trust platform which enables organizations to digitally transform their operations and securely adopt AI for productivity and efficiency gains,” said Kevin Rubin. “I am excited to join such a dynamic and innovative company and look forward to collaborating with the team to advance Zscaler’s mission.”
Forward-Looking Statements
This press release contains forward-looking statements that are based on our management's beliefs and assumptions and on information currently available to our management. These forward-looking statements include the potential impact of the executive appointment to Zscaler's future recurring revenue and ability to grow and scale. These forward-looking statements are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. A significant number of factors could cause actual results to differ materially from statements made in this press release.
Additional risks and uncertainties are set forth in our most recent Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (“SEC”) on March 10, 2025, which is available on our website at ir.zscaler.com and on the SEC's website at www.sec.gov. Any forward-looking statements in this release are based on the limited information currently available to Zscaler as of the date hereof, which is subject to change, and Zscaler will not necessarily update the information, even if new information becomes available in the future.
About Zscaler
Zscaler (NASDAQ: ZS) accelerates digital transformation so customers can be more agile, efficient, resilient, and secure. The Zscaler Zero Trust Exchange protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Distributed across more than 150 data centers globally, the SASE-based Zero Trust Exchange is the world’s largest in-line cloud security platform.
Zscaler™, Zscaler Zero Trust Exchange™, Zscaler Internet Access™, and Zscaler Private Access™, ZIA™, and ZPA™ and Zscaler B2B™ are either (i) registered trademarks or service marks or (ii) trademarks or service marks of Zscaler, Inc. in the United States and/or other countries. Any other trademarks are the properties of their respective owners.
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