Banco Bilbao Vizcaya Argentaria S.A. Boosts Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Banco Bilbao Vizcaya Argentaria S.A. lifted its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 327.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,044 shares of the company's stock after purchasing an additional 7,695 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Zscaler were worth $1,836,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ZS. Zweig DiMenna Associates LLC lifted its stake in Zscaler by 29.8% during the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company's stock worth $14,061,000 after purchasing an additional 17,900 shares during the last quarter. Baader Bank Aktiengesellschaft raised its holdings in shares of Zscaler by 30.3% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company's stock valued at $1,515,000 after buying an additional 1,952 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Zscaler in the 4th quarter worth approximately $565,000. SYM FINANCIAL Corp purchased a new stake in Zscaler in the fourth quarter worth approximately $303,000. Finally, Merit Financial Group LLC bought a new position in Zscaler during the fourth quarter valued at approximately $787,000. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Stock Performance

Shares of NASDAQ ZS traded up $0.89 during midday trading on Thursday, hitting $227.06. 3,162,713 shares of the stock traded hands, compared to its average volume of 2,008,012. Zscaler, Inc. has a one year low of $153.45 and a one year high of $230.70. The firm has a market capitalization of $35.13 billion, a P/E ratio of -908.24 and a beta of 1.12. The firm has a 50-day moving average of $200.30 and a two-hundred day moving average of $197.92.

Insiders Place Their Bets

In other news, major shareholder Ajay Mangal sold 190,480 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares in the company, valued at $517,822,344.90. This trade represents a 6.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew William Fraser Brown sold 10,000 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the completion of the transaction, the director now directly owns 27,216 shares of the company's stock, valued at $5,606,496. This represents a 26.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,234 shares of company stock worth $42,030,790 over the last quarter. 18.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ZS has been the subject of a number of research reports. Morgan Stanley cut their price objective on shares of Zscaler from $205.00 to $200.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. BTIG Research set a $252.00 price objective on Zscaler and gave the company a "buy" rating in a research note on Thursday, March 6th. Stephens began coverage on Zscaler in a research report on Tuesday, April 1st. They set an "overweight" rating and a $255.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Zscaler from $240.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday, March 6th. Finally, Bank of America upgraded shares of Zscaler from a "neutral" rating to a "buy" rating and raised their target price for the stock from $215.00 to $240.00 in a report on Friday, March 7th. Eight analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Zscaler presently has a consensus rating of "Moderate Buy" and an average price target of $236.66.

About Zscaler

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.