Zscaler gains as AI security tie-up and reaffirmed outlook support bullish sentiment

Zscaler (ZS) is up 7.4% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to fresh enthusiasm around Zscaler’s AI security positioning after it announced support for NVIDIA’s OpenShell reference architecture for safe AI agents. Investors also may still be reacting to the company’s October investor-day update, where it reaffirmed first-quarter and fiscal 2027 guidance and emphasized a larger long-term growth opportunity tied to AI and zero-trust security.

Details:

Zscaler published a new announcement on October 21 describing how its Security for AI offering will work with NVIDIA’s OpenShell framework, reinforcing its role in securing enterprise AI agents.

NVIDIA listed Zscaler among the cybersecurity vendors integrating support for the OpenShell reference architecture, which adds visibility to Zscaler’s AI-related partnerships.

Earlier this month, Zscaler said at its investor day that it was reaffirming first-quarter and full-year fiscal 2027 guidance, giving the market a recent fundamental support point.

An October 6 current report filed with the SEC included the investor-day materials and the company’s reaffirmed outlook, which may still be contributing to momentum in the shares.

Sources:

Zscaler, NVIDIA, SEC

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$ZS Insider Trading Activity

$ZS insiders have traded $ZS stock on the open market 42 times in the past 6 months. Of those trades, 0 have been purchases and 42 have been sales.

Here’s a breakdown of recent trading of $ZS stock by insiders over the last 6 months:

ADAM GELLER (Chief Product Officer) has made 0 purchases and 8 sales selling 40,580 shares for an estimated $8,325,068.
ROBERT SCHLOSSMAN (Chief Legal Officer) has made 0 purchases and 4 sales selling 10,987 shares for an estimated $1,943,021.
KEVIN RUBIN (Chief Financial Officer) has made 0 purchases and 24 sales selling 9,168 shares for an estimated $1,625,051.
MICHAEL J. RICH (CRO and President of WW Sales) has made 0 purchases and 2 sales selling 8,292 shares for an estimated $1,320,850.
JAGTAR SINGH CHAUDHRY (CEO & Chairman) has made 0 purchases and 2 sales selling 5,730 shares for an estimated $913,623.
JAMES A BEER has made 0 purchases and 2 sales selling 354 shares for an estimated $56,199.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$ZS Hedge Fund Activity

We have seen 407 institutional investors add shares of $ZS stock to their portfolio, and 382 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

FMR LLC removed 1,839,487 shares (-84.0%) from their portfolio in Q2 2026, for an estimated $259,643,590
TIGER GLOBAL MANAGEMENT LLC removed 1,579,766 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $222,983,970
VICTORY CAPITAL MANAGEMENT INC added 1,536,364 shares (+1108.1%) to their portfolio in Q2 2026, for an estimated $216,857,778
AMERICAN CENTURY COMPANIES INC removed 1,517,931 shares (-63.7%) from their portfolio in Q2 2026, for an estimated $214,255,960
JERICHO CAPITAL ASSET MANAGEMENT L.P. added 1,362,862 shares (+inf%) to their portfolio in Q2 2026, for an estimated $192,367,971
BLACKROCK, INC. added 1,322,067 shares (+15.4%) to their portfolio in Q2 2026, for an estimated $186,609,757
T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 1,257,901 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $177,552,726

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$ZS Price Targets

Multiple analysts have issued price targets for $ZS recently. We have seen 28 analysts offer price targets for $ZS in the last 6 months, with a median target of $195.0.

Here are some recent targets:

Jackson Ader from Keybanc set a target price of $176.0 on 06/25/2026
Todd Weller from Stephens & Co. set a target price of $200.0 on 06/12/2026
Kingsley Crane from Canaccord Genuity set a target price of $210.0 on 06/11/2026
Mike Cikos from Needham set a target price of $180.0 on 06/10/2026
Dan Ives from Wedbush set a target price of $220.0 on 06/10/2026
John Difucci from Guggenheim set a target price of $214.0 on 06/10/2026
Jonathan Ruykhaver from Cantor Fitzgerald set a target price of $225.0 on 06/10/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.