Contrarius Group Holdings Ltd Takes $72.85 Million Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Contrarius Group Holdings Ltd bought a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 892,715 shares of the company's stock, valued at approximately $72,854,000. Zoom Video Communications accounts for about 4.5% of Contrarius Group Holdings Ltd's holdings, making the stock its 10th largest position. Contrarius Group Holdings Ltd owned 0.29% of Zoom Video Communications at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC boosted its position in shares of Zoom Video Communications by 449.4% in the 3rd 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 bought a new position in Zoom Video Communications during the fourth quarter worth about $1,072,000. Eagle Asset Management Inc. acquired a new position in shares of Zoom Video Communications during the 3rd quarter worth about $62,038,000. State Street Corp grew its position in shares of Zoom Video Communications by 2.3% during the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company's stock worth $425,853,000 after buying an additional 134,559 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of Zoom Video Communications by 202.8% in the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company's stock valued at $64,054,000 after acquiring an additional 521,778 shares during the last quarter. Institutional investors own 66.54% of the company's stock.

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Analysts Set New Price Targets

A number of research firms have issued reports on ZM. Barclays decreased their target price on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. UBS Group lowered their target price on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Stifel Nicolaus dropped their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. The Goldman Sachs Group upped their price target 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. Finally, Rosenblatt Securities restated a "buy" rating and set a $95.00 price objective on shares of Zoom Video Communications in a report on Wednesday, March 19th. Fifteen research 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $89.33.

Zoom Video Communications Trading Up 2.9 %

Shares of ZM traded up $2.23 during midday trading on Monday, reaching $78.20. The stock had a trading volume of 1,969,972 shares, compared to its average volume of 3,038,958. The firm has a market cap of $23.87 billion, a PE ratio of 26.07, a P/E/G ratio of 5.48 and a beta of 0.26. The firm has a 50 day simple moving average of $79.97 and a 200-day simple moving average of $78.03. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 9,317 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $733,154.73. Following the transaction, the chief operating officer now directly owns 14,053 shares in the company, valued at $1,105,830.57. The trade was a 39.87 % 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 hyperlink. Also, CEO Eric S. Yuan sold 33,751 shares of the firm's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $78.69, for a total transaction of $2,655,866.19. Following the sale, the chief executive officer now owns 34,703 shares of the company's stock, valued at approximately $2,730,779.07. This represents a 49.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 369,271 shares of company stock worth $29,496,892. Insiders own 10.78% of the company's stock.

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.