Zscaler, Inc.· ZS

🇺🇸 US · LargeBroad USNASDAQ

Technology Software - Infrastructure Website

Price: $197.47
Day: +3.07%
Mkt Cap: $31.93B
52W Range: $114.63 – $336.99
Volume: 3.01M
Beta: 0.95

D55D FrameworkQuarterly Data

Holdings Analysis

Insider activity, institutional flows, and fund ownership.

Smart Money: 2.9 / 5 (Neutral), from 3 of 3 components
Institutions Q2 2026: 840 institutions hold; 429 added, 254 reduced
Insiders Q3 2026: no purchases, 18 sales ($5.1M)

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Zscaler, Inc.

ZS|Technology|Software - Infrastructure

Current price: $197

Smart Money

Dimension 5 of 5

Insider selling pace · Q3 2026

0.4x

quarter in progress, filings still arriving

Seller breadth · Q3 2026

6 sellers

vs 6.7 avg per quarter

Institutional net breadth · Q2 2026

+176

570 adding vs 394 reducing

Institutional ownership · Q2 2026

51.5%

840 institutions

Insider Selling Pace

Each quarter's selling vs this stock's own trailing 6-quarter average

Light <0.5xRoutineElevated >1.5xHeavy >3xBuying

Institutional Positions

Institutions adding above the line, reducing below, net as a line

NewIncreasedReducedClosedNet

Largest Institutional Holders, Q2 2026

By reported market value, and how each moved in the quarter

Holder

Change

BLACKROCK, INC.

9.9M

+14.6%

VANGUARD PORTFOLIO MANAGEMENT LLC

6.2M

+3.8%

VANGUARD CAPITAL MANAGEMENT LLC

4.7M

+0.6%

FIRST TRUST ADVISORS LP

3.5M

-0.4%

GOLDMAN SACHS GROUP INC

3.2M

+7.3%

STATE STREET CORP

2.5M

+3.8%

ETF & Fund Activity, Q2 2026

How the covering funds split between buying, holding and selling

102

214

102 buying214 unchanged68 selling

384 funds held ZS in Q2 2026, holding 41.1M shares between them, down 2.7% on the quarter.

Largest fund holders

Northern Lights Fund Trust4.7K sh

LoCorr Investment Trust4.2K sh

VANGUARD WELLESLEY INCOME FUND3.7K sh

Notable Insider Transactions, Q3 2026

Largest open-market purchases and sales by value in the last eight quarters

Sale · Jun 6

Giancarlo Charles H

$14.4M

Sale · May 16

Nair Syam

$7.2M

Sale · Mar 17

Mangal Ajay

$6.7M

Insider transactions from SEC Form 4 filings; institutional holdings from quarterly 13F filings, which are reported with a lag and can overlap between filers. 13F: quarterly institutional holdings report · ETF: Exchange-Traded Fund

See the complete picture

The full 5D Framework: Business Quality · Peer Comparison · Valuation · Analyst Sentiment · Smart Money

Explore ZS on stockoscope.com→

Generated September 19, 2026

For educational purposes only. Not financial advice. Data may be delayed or incomplete.

Smart Money Sentiment

ZS Smart Money Sentiment Score

A weighted 1-5 sentiment score across three smart money signals.

Smart Money

2.9/5

Neutral

Weighted across 3 components

Component Breakdown (3 of 3 available)

Insider Activity

40% weight

Institutional Flow

50% weight

-16

Fund Flow

10% weight

+25

Overall Smart Money sentiment of 2.9/5 (Neutral) based on a weighted combination of 3 components. Insider activity uses a relative-baseline comparison against the stock's own history; institutional flow tracks position momentum and 13F share changes; fund flow measures ETF / mutual-fund buying vs selling. Higher scores indicate stronger bullish sentiment from professional investors.Last updated September 18, 2026.

Insider Trading Activity

Insider trading analysis comparing the latest quarter against the stock's own historical baseline.

Insider Selling Pace for ZS

Each quarter's selling vs the stock's own trailing 6-quarter average; 1.0x is typical for this stock. Green triangles mark quarters with insider buying.

Neutral

Routine insider selling in Q3 2026

18 sales totaling $5.1M (26.7K shares)

Share volume is below the historical pace (0.4x average)

6 different insiders sold this quarter

Buying seen in 1 of 15 quarters

Selling has increased for 4 straight quarters

0.4x

Selling pace

quarter in progress, filings still arriving

0.10%

Stake sold

of active insiders' holdings

6 sellers

Seller breadth

vs 6.7 avg per quarter

Q4 2022

Last insider purchase

buying in 1 of 16 quarters

Notable Recent Transactions, ZS

Top 8 highest-value insider trades from the last 8 quarters

Giancarlo Charles H

Director

Sell

47,389 shares at $304.37

≈94.8% of their stake at the time

Jun 6, 2025$14.42M

Nair Syam

CTO

Sell

28,947 shares at $250.00

≈20.7% of their stake at the time

May 16, 2025$7.24M

Mangal Ajay

10% Owner

Sell

33,318 shares at $200.25

≈0.2% of their stake at the time

Mar 17, 2025$6.67M

Mangal Ajay

10% Owner

Sell

33,317 shares at $200.25

≈1.3% of their stake at the time

Mar 17, 2025$6.67M

Mangal Ajay

10% Owner

Sell

20,880 shares at $300.66

≈0.8% of their stake at the time

Jun 9, 2025$6.28M

Brown Andrew William Fraser

Director

Sell

19,941 shares at $296.71

≈42.3% of their stake at the time

Jun 4, 2025$5.92M

Rich Michael J.

Cro and President of Ww Sales

Sell

11,718 shares at $280.70

≈10.4% of their stake at the time

Sep 16, 2025$3.29M

Geller Adam

Chief Product Officer

Sell

11,193 shares at $280.70

≈17.2% of their stake at the time

Sep 16, 2025$3.14M

Institutional Ownership Analysis

Institutional ownership analysis with position momentum, 13F share flow, and ownership percentage trends.

Institutional Positions for ZS

Institutions adding (new + increased) above zero, reducing (reduced + closed) below, net as a line

New Increased Reduced Closed Net (adding − reducing)

Neutral

Mixed institutional activity in Q2 2026

51.5% institutional ownership

Slight accumulation: 570 adding vs 394 reducing

13F shares decreased by 6.0%, a significant shift

Momentum improving from prior quarter

+176

Net breadth

570 adding vs 394 reducing

Accumulating

1.45

Add / reduce ratio

in Q2 2026

New − closed

141 initiated, 140 exited

7 of 10

Top holders adding

largest holders with a known change

Position Changes

Q2 2026: how are institutions adjusting their positions?

+570 growing-394 shrinkingNet: +176

141

429

254

140

New (141)

Increased (429)

Reduced (254)

Closed (140)

Top Institutional Holders, ZS

Largest 8 institutional positions by ownership percentage as of Q2 2026

BLACKROCK, INC.

9.9M

$1.4B

Ownership

6.11%

+14.6%

VANGUARD PORTFOLIO MANAGEMENT LLC

6.2M

$874.7M

Ownership

3.83%

+3.8%

VANGUARD CAPITAL MANAGEMENT LLC

4.7M

$666.4M

Ownership

2.92%

+0.6%

FIRST TRUST ADVISORS LP

3.5M

$498.1M

Ownership

2.18%

-0.4%

GOLDMAN SACHS GROUP INC

3.2M

$446.3M

Ownership

1.95%

+7.3%

STATE STREET CORP

2.5M

$352.0M

Ownership

1.54%

+3.8%

PICTET ASSET MANAGEMENT HOLDING SA

2.1M

$296.9M

Ownership

1.30%

+8.8%

GEODE CAPITAL MANAGEMENT, LLC

2.1M

$294.3M

Ownership

1.29%

-0.5%

ETF and Mutual Fund Holdings

ETF and mutual fund activity breakdown showing buying vs selling funds, top fund holders, and detailed holdings.

Fund Activity

Q2 2026: 384 ETFs and mutual funds reporting

102 buying68 sellingNet: +34

102

214

Buying (102)

Unchanged (214)

Selling (68)

In total, funds bought 2.8M shares and sold 3.9M this quarter. Each fund counts once in the bar above, whatever the size of its move.

Bullish Signal

Funds accumulating in Q2 2026

384 ETFs and mutual funds reporting

102 funds buying vs 68 selling

Top Fund Holders, ZS

Largest 8 ETF and mutual fund positions by shares held, each fund's latest filing

Northern Lights Fund Trust

4.7K

Weight

0.01%

Jul 31, 2026No change

LoCorr Investment Trust

4.2K

Weight

0.02%

Jun 30, 2026No change

VANGUARD WELLESLEY INCOME FUND

3.7K

Weight

0.00%

Jun 30, 2026Increased

FIDELITY SCHOOL STREET TRUST

3.7K

Weight

0.00%

Jun 30, 2026No change

BlackRock Variable Series Funds, Inc.

3.7K

Weight

0.00%

Jun 30, 2026Increased

RUSSELL INVESTMENT FUNDS

3.6K

Weight

0.00%

Jun 30, 2026Increased

Franklin Templeton ETF Trust

3.6K

Weight

0.00%

Jun 30, 2026Decreased

THRIVENT SERIES FUND INC

3.5K

Weight

0.00%

Jun 30, 2026No change

Zscaler, Inc.· ZS

Holdings Analysis

Insider Trading Activity

1.3Transaction History355Real market purchases and sales onlyShow All Types

Institutional Ownership Analysis

2.4Detailed Holdings153Most recent institutional positions with changes and valuations

ETF and Mutual Fund Holdings

3.3Fund Holdings Details25Most recent ETF and mutual fund holdings with share counts and weights

Search stocks

Holdings Analysis

Insider Trading Activity

1.3Transaction History355Real market purchases and sales onlyShow All Types

Institutional Ownership Analysis

2.4Detailed Holdings153Most recent institutional positions with changes and valuations

ETF and Mutual Fund Holdings

3.3Fund Holdings Details25Most recent ETF and mutual fund holdings with share counts and weights