Asset Management One Co. Ltd. boosted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 8.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 93,872 shares of the company's stock after buying an additional 7,518 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Zoom Video Communications were worth $7,868,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of ZM. Baker Avenue Asset Management LP grew its holdings in shares of Zoom Video Communications by 82.1% in the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company's stock valued at $1,994,000 after acquiring an additional 12,890 shares in the last quarter. HighTower Advisors LLC boosted its position in Zoom Video Communications by 449.4% in the third 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 during the last quarter. Merit Financial Group LLC purchased a new position in Zoom Video Communications in the fourth quarter worth $1,072,000. Robeco Institutional Asset Management B.V. grew its stake in Zoom Video Communications by 15.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company's stock valued at $87,713,000 after purchasing an additional 167,618 shares during the period. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Zoom Video Communications during the 3rd quarter valued at $62,038,000. 66.54% of the stock is currently owned by institutional investors.
Zoom Video Communications Price Performance
Shares of NASDAQ:ZM traded down $0.95 on Friday, hitting $82.50. The company's stock had a trading volume of 4,120,593 shares, compared to its average volume of 2,294,444. The company has a market capitalization of $25.29 billion and a PE ratio of 27.50. The company has a 50-day simple moving average of $83.21 and a 200 day simple moving average of $75.90. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80.
Insider Buying and Selling
In related news, CAO Shane Crehan sold 1,412 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $111,110.28. Following the transaction, the chief accounting officer now directly owns 5,404 shares of the company's stock, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $307,312.92. Following the transaction, the insider now directly owns 107,826 shares in the company, valued at $9,158,740.44. This trade represents a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 382,242 shares of company stock worth $31,230,938. Insiders own 10.78% of the company's stock.
Wall Street Analyst Weigh In
ZM has been the topic of a number of research analyst reports. Barclays boosted their price target on shares of Zoom Video Communications from $70.00 to $85.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 27th. Jefferies Financial Group upgraded shares of Zoom Video Communications from a "hold" rating to a "buy" rating and boosted their target price for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. Royal Bank of Canada restated an "outperform" rating and set a $95.00 price target on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Hsbc Global Res upgraded Zoom Video Communications to a "strong-buy" rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley increased their price objective on Zoom Video Communications from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Wednesday, December 18th. Sixteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications has an average rating of "Hold" and an average target price of $89.48.
Read Our Latest Report on ZM
Zoom Video Communications Profile
(
Free Report)
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.
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