Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Purchased by Alliancebernstein L.P.

Alliancebernstein L.P. raised its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 375,652 shares of the company's stock after acquiring an additional 6,803 shares during the period. Alliancebernstein L.P. owned approximately 0.12% of Zoom Video Communications worth $30,657,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ZM. Norges Bank acquired a new position in shares of Zoom Video Communications during the 4th quarter valued at about $751,908,000. Raymond James Financial Inc. purchased a new position in Zoom Video Communications during the fourth quarter worth about $99,471,000. Contrarius Group Holdings Ltd acquired a new position in Zoom Video Communications in the 4th quarter valued at about $72,854,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Zoom Video Communications by 357.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 998,744 shares of the company's stock valued at $81,507,000 after buying an additional 780,446 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Zoom Video Communications by 126.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company's stock worth $102,119,000 after buying an additional 699,625 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the sale, the director now owns 169,452 shares of the company's stock, valued at approximately $13,193,532.72. This trade represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric S. Yuan sold 118,036 shares of the company's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $79.03, for a total transaction of $9,328,385.08. The disclosure for this sale can be found here. Insiders sold 316,449 shares of company stock worth $25,338,274 over the last 90 days. 10.78% of the stock is owned by insiders.

Remove Ads

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Stifel Nicolaus lowered their price objective on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a research report on Tuesday, February 25th. UBS Group lowered their price target on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Citigroup lowered their target price on shares of Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 18th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $89.33.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock traded up $1.73 on Friday, reaching $71.34. 1,929,318 shares of the company were exchanged, compared to its average volume of 3,102,858. The stock's 50 day moving average price is $76.77 and its 200-day moving average price is $78.43. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The company has a market cap of $21.78 billion, a P/E ratio of 23.78, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67.

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.