6,885 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI bought a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,885 shares of the company's stock, valued at approximately $562,000.

Other hedge funds have also bought and sold shares of the company. FMR LLC boosted its holdings in shares of Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company's stock worth $867,906,000 after purchasing an additional 2,395,396 shares in the last quarter. State Street Corp boosted its stake in Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company's stock worth $425,853,000 after buying an additional 134,559 shares in the last quarter. Pacer Advisors Inc. grew its position in Zoom Video Communications by 4.4% during the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company's stock valued at $382,188,000 after acquiring an additional 233,241 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Zoom Video Communications by 4.2% during the third quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company's stock worth $320,177,000 after acquiring an additional 184,518 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Zoom Video Communications by 9.8% in the 3rd quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company's stock worth $101,032,000 after acquiring an additional 128,800 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Insider Activity

In other Zoom Video Communications news, CAO Shane Crehan sold 1,412 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $111,110.28. Following the sale, the chief accounting officer now directly owns 5,404 shares in the company, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 33,751 shares of the business's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $78.69, for a total value of $2,655,866.19. Following the completion of the transaction, the chief executive officer now owns 34,703 shares of the company's stock, valued at $2,730,779.07. This represents a 49.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 369,271 shares of company stock worth $29,496,892 over the last three months. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Stock Down 2.3 %

Shares of ZM opened at $72.23 on Friday. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The stock has a market cap of $22.14 billion, a P/E ratio of 24.08, a P/E/G ratio of 5.48 and a beta of 0.26. The business's 50 day moving average price is $80.61 and its 200-day moving average price is $77.61.

Analysts Set New Price Targets

A number of brokerages recently commented on ZM. Morgan Stanley lifted their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 18th. Citigroup decreased their price objective on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. The Goldman Sachs Group raised their price target on Zoom Video Communications from $72.00 to $86.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Sanford C. Bernstein boosted their price objective on Zoom Video Communications from $78.00 to $89.00 and gave the company a "market perform" rating in a research report on Tuesday, November 26th. Finally, Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Fifteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $90.05.

Remove Ads

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.

Want to see what other hedge funds are holding ZM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.