California Public Employees Retirement System Grows Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

California Public Employees Retirement System raised its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,256,017 shares of the company's stock after purchasing an additional 3,492 shares during the quarter. California Public Employees Retirement System owned 0.41% of Zoom Video Communications worth $102,504,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Norges Bank purchased a new position in Zoom Video Communications in the 4th quarter worth about $751,908,000. Raymond James Financial Inc. purchased a new position in shares of Zoom Video Communications during the fourth quarter valued at approximately $99,471,000. Contrarius Group Holdings Ltd purchased a new stake in Zoom Video Communications in the fourth quarter worth approximately $72,854,000. Arrowstreet Capital Limited Partnership grew its position in Zoom Video Communications by 357.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 998,744 shares of the company's stock worth $81,507,000 after purchasing an additional 780,446 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in 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 valued at $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.

Zoom Video Communications Trading Down 2.4 %

ZM traded down $1.79 during trading hours on Thursday, hitting $73.25. The company's stock had a trading volume of 2,530,160 shares, compared to its average volume of 3,084,779. The stock has a market cap of $22.36 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 5.48 and a beta of 0.26. The business's 50-day moving average price is $79.52 and its 200-day moving average price is $78.38. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80.

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Analyst Ratings Changes

A number of analysts recently commented on the company. Rosenblatt Securities reiterated a "buy" rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Scotiabank reduced their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating for the company in a research report on Monday, March 17th. Wells Fargo & Company raised shares of Zoom Video Communications from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $70.00 to $85.00 in a report on Tuesday, January 7th. Jefferies Financial Group raised shares of Zoom Video Communications from a "hold" rating to a "buy" rating and upped their target price for the company from $85.00 to $100.00 in a report on Thursday, December 19th. Finally, Barclays dropped 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. Fifteen 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $89.33.

Insiders Place Their Bets

In other news, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction 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 completion of the sale, the director now directly owns 169,452 shares of the company's stock, valued at approximately $13,193,532.72. The trade was a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Shane Crehan sold 1,412 shares of the company'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 completion of the transaction, the chief accounting officer now owns 5,404 shares in the company, valued at $425,240.76. This represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 371,746 shares of company stock valued at $29,689,595 in the last three months. Corporate insiders own 10.78% of the company's stock.

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.