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Zscaler (NASDAQ:ZS), a $44.26 billion cybersecurity company whose stock has surged 54.9% year-to-date, reported that Chief Revenue Officer Michael J. Rich sold 11,718 shares of common stock on September 16, 2025, for a total of $3.28 million. The sales occurred at weighted average prices ranging from $280.6951 to $280.6992.
According to a Form 4 filing with the Securities and Exchange Commission, the transaction was to cover tax withholding obligations related to the vesting of restricted stock units.
On September 15, 2025, Rich also acquired 14,337 shares of Zscaler common stock with a value of $0, representing restricted stock units granted upon achievement of certain performance metrics. These units vest 100% on September 15, 2025.
Following these transactions, Rich directly owns 100,822 shares of Zscaler.
In other recent news, Zscaler reported its fourth-quarter 2025 earnings, which revealed a significant miss on earnings per share (EPS), posting -$0.11 compared to the expected $0.80. This represents a surprise of -113.75%. However, the company exceeded revenue expectations, generating $719 million against a forecast of $706.95 million. Freedom Capital Markets upgraded Zscaler’s stock rating to Buy, citing strong fourth-quarter performance and resilient demand for its security solutions. Truist Securities reiterated its Buy rating with a $350 price target, expressing confidence in Zscaler’s long-term platform strategy. Canaccord Genuity also raised its price target to $340, highlighting Zscaler’s robust technology and strong platform uptake. These developments reflect analysts’ positive outlook on the company’s growth potential despite the recent earnings miss.
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