Assenagon Asset Management S.A. Increases Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Assenagon Asset Management S.A. grew its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 126.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,251,302 shares of the company's stock after purchasing an additional 699,625 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.41% of Zoom Video Communications worth $102,119,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Truvestments Capital LLC purchased a new position in shares of Zoom Video Communications in the third quarter worth about $37,000. Allworth Financial LP grew its holdings in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company's stock worth $41,000 after purchasing an additional 180 shares during the period. Venturi Wealth Management LLC increased its position in shares of Zoom Video Communications by 56.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company's stock worth $53,000 after purchasing an additional 274 shares during the last quarter. GAMMA Investing LLC raised its holdings in Zoom Video Communications by 27.1% in the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company's stock valued at $63,000 after buying an additional 164 shares during the period. Finally, True Wealth Design LLC raised its holdings in Zoom Video Communications by 10,763.6% in the 3rd quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock valued at $83,000 after buying an additional 1,184 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ZM shares. Barclays increased their target price on Zoom Video Communications from $70.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 27th. Scotiabank raised shares of Zoom Video Communications to a "hold" rating in a research report on Tuesday, November 19th. The Goldman Sachs Group lifted their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Sanford C. Bernstein upped their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 26th. Finally, Evercore ISI raised shares of Zoom Video Communications from an "in-line" rating to an "outperform" rating and raised their price target for the company from $70.00 to $115.00 in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $87.81.

Zoom Video Communications Stock Up 1.3 %

ZM traded up $1.06 on Wednesday, reaching $80.26. The company had a trading volume of 2,045,708 shares, compared to its average volume of 2,117,801. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The stock has a market capitalization of $24.60 billion, a PE ratio of 26.75, a P/E/G ratio of 5.29 and a beta of -0.01. The stock has a 50-day moving average price of $83.05 and a 200-day moving average price of $71.39.

Insider Buying and Selling at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 3,618 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $307,312.92. Following the transaction, the insider now owns 107,826 shares of the company's stock, valued at approximately $9,158,740.44. The trade was a 3.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $111,110.28. Following the sale, the chief accounting officer now directly owns 5,404 shares of the company's stock, valued at approximately $425,240.76. This represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 370,592 shares of company stock worth $28,972,914. 10.78% of the stock is owned by 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.