Abacus FCF Advisors LLC Raises Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Abacus FCF Advisors LLC boosted its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 192.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,412 shares of the company's stock after acquiring an additional 42,374 shares during the period. Abacus FCF Advisors LLC's holdings in Zoom Video Communications were worth $5,257,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ZM. The Manufacturers Life Insurance Company raised its holdings in Zoom Video Communications by 20.2% during the third quarter. The Manufacturers Life Insurance Company now owns 16,125 shares of the company's stock valued at $1,125,000 after acquiring an additional 2,714 shares during the period. MetLife Investment Management LLC raised its stake in Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company's stock valued at $322,000 after purchasing an additional 154 shares during the period. Captrust Financial Advisors lifted its holdings in Zoom Video Communications by 67.6% in the 3rd quarter. Captrust Financial Advisors now owns 11,361 shares of the company's stock worth $792,000 after purchasing an additional 4,584 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Zoom Video Communications by 449.4% in the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company's stock worth $4,429,000 after purchasing an additional 52,039 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in Zoom Video Communications by 74.4% in the 3rd quarter. Quantinno Capital Management LP now owns 56,835 shares of the company's stock worth $3,964,000 after purchasing an additional 24,237 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have recently commented on ZM. Royal Bank of Canada reissued an "outperform" rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Wednesday, March 19th. Barclays decreased their price target on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Rosenblatt Securities restated a "buy" rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Jefferies Financial Group raised Zoom Video Communications from a "hold" rating to a "buy" rating and lifted their target price for the stock from $85.00 to $100.00 in a report on Thursday, December 19th. Finally, Benchmark reissued a "buy" rating and set a $97.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications presently has an average rating of "Hold" and a consensus price target of $89.33.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the transaction, the director now directly owns 1,514 shares in the company, valued at $121,619.62. This represents a 94.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the completion of the sale, the director now owns 169,452 shares of the company's stock, valued at approximately $13,193,532.72. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 316,449 shares of company stock worth $25,338,274 in the last 90 days. 10.78% of the stock is owned by corporate insiders.

Zoom Video Communications Trading Up 2.5 %

Shares of ZM traded up $1.73 during trading hours on Friday, reaching $71.34. 1,929,318 shares of the company traded hands, compared to its average volume of 3,104,395. The stock's fifty day moving average price is $76.77 and its 200 day moving average price is $78.49. The firm has a market cap of $21.78 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80.

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.