American Century Companies Inc. Boosts Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

American Century Companies Inc. boosted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 259,176 shares of the company's stock after buying an additional 24,261 shares during the period. American Century Companies Inc. owned 0.08% of Zoom Video Communications worth $21,151,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ZM. The Manufacturers Life Insurance Company boosted its holdings in shares of Zoom Video Communications by 20.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,125 shares of the company's stock valued at $1,125,000 after buying an additional 2,714 shares in the last quarter. CreativeOne Wealth LLC boosted its stake in Zoom Video Communications by 29.0% in the third quarter. CreativeOne Wealth LLC now owns 8,287 shares of the company's stock valued at $578,000 after acquiring an additional 1,862 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Zoom Video Communications by 3.4% in the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company's stock worth $322,000 after purchasing an additional 154 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Zoom Video Communications by 59.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,107 shares of the company's stock worth $8,237,000 after purchasing an additional 44,203 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Zoom Video Communications by 67.6% during the third 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. Institutional investors own 66.54% of the company's stock.

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Zoom Video Communications Stock Performance

NASDAQ ZM traded up $0.71 during mid-day trading on Wednesday, reaching $74.73. 657,521 shares of the stock were exchanged, compared to its average volume of 2,560,446. 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 capitalization of $22.81 billion, a P/E ratio of 24.91, a P/E/G ratio of 5.48 and a beta of 0.26. The business's 50 day moving average is $79.60 and its 200-day moving average is $78.41.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays dropped their target price on 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. Cantor Fitzgerald restated a "neutral" rating and set a $87.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. UBS Group decreased their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Rosenblatt Securities reissued a "buy" rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Finally, Morgan Stanley raised their price target on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 18th. Fifteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Zoom Video Communications presently has a consensus rating of "Hold" and a consensus target price of $89.33.

Insider Buying and Selling

In other news, 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 $13,193,532.72. The trade was a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Velchamy Sankarlingam sold 10,817 shares of the firm's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $851,189.73. Following the completion of the transaction, the insider now directly owns 117,760 shares in the company, valued at $9,266,534.40. This represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 371,746 shares of company stock valued at $29,689,595. 10.78% of the stock is owned by company insiders.

Zoom Video Communications 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.