CANADA LIFE ASSURANCE Co Has $24.19 Million Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

CANADA LIFE ASSURANCE Co lessened its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 296,636 shares of the company's stock after selling 9,062 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.10% of Zoom Video Communications worth $24,187,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. FMR LLC raised its stake in Zoom Video Communications by 2.3% in the fourth quarter. FMR LLC now owns 12,727,532 shares of the company's stock valued at $1,038,694,000 after buying an additional 282,645 shares during the period. Norges Bank bought a new stake in Zoom Video Communications in the 4th quarter valued at $751,908,000. Geode Capital Management LLC lifted its holdings in Zoom Video Communications by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock valued at $377,429,000 after purchasing an additional 28,725 shares during the last quarter. Renaissance Technologies LLC boosted its position in Zoom Video Communications by 9.7% during the fourth quarter. Renaissance Technologies LLC now owns 4,304,848 shares of the company's stock worth $351,319,000 after purchasing an additional 380,900 shares during the period. Finally, FIL Ltd increased its holdings in shares of Zoom Video Communications by 3.7% in the fourth quarter. FIL Ltd now owns 3,012,007 shares of the company's stock valued at $245,810,000 after purchasing an additional 108,075 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Insiders Place Their Bets

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 11,839 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total transaction of $851,342.49. Following the completion of the sale, the insider now owns 125,529 shares of the company's stock, valued at approximately $9,026,790.39. This represents a 8.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $77.86, for a total transaction of $192,703.50. Following the completion of the transaction, the director now owns 169,452 shares in the company, valued at $13,193,532.72. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 242,897 shares of company stock valued at $18,941,111 in the last ninety days. 10.78% of the stock is currently owned by insiders.

Zoom Video Communications Stock Up 3.7 %

Shares of ZM stock traded up $2.66 during mid-day trading on Thursday, reaching $75.49. 1,910,895 shares of the stock traded hands, compared to its average volume of 3,058,351. The stock's fifty day simple moving average is $74.58 and its two-hundred day simple moving average is $78.53. 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 $23.04 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67.

Analysts Set New Price Targets

Several analysts recently issued reports on ZM shares. Royal Bank of Canada restated an "outperform" rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Scotiabank decreased their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating on the stock in a research note on Monday, March 17th. Citigroup dropped their price objective 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. Mizuho decreased their target price on shares of Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Finally, Benchmark reiterated a "buy" rating and issued a $97.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $85.90.

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.