Corient Private Wealth LLC Grows Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Corient Private Wealth LLC grew its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 265.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 60,750 shares of the company's stock after acquiring an additional 44,109 shares during the period. Corient Private Wealth LLC's holdings in Zoom Video Communications were worth $4,957,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. FMR LLC increased its stake in Zoom Video Communications by 23.8% during the third quarter. FMR LLC now owns 12,444,887 shares of the company's stock worth $867,906,000 after purchasing an additional 2,395,396 shares during the period. Raymond James Financial Inc. purchased a new stake in Zoom Video Communications during the 4th quarter worth approximately $99,471,000. Eagle Asset Management Inc. acquired a new stake in Zoom Video Communications during the 3rd quarter worth approximately $62,038,000. Assenagon Asset Management S.A. boosted its position in Zoom Video Communications by 126.8% in 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 period. Finally, Nordea Investment Management AB boosted its position in 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 buying an additional 521,778 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ZM. Rosenblatt Securities reiterated a "buy" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Wednesday, March 19th. UBS Group reduced their price target on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. JMP Securities reissued a "market perform" rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Royal Bank of Canada restated an "outperform" rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Finally, Jefferies Financial Group upgraded shares of Zoom Video Communications from a "hold" rating to a "buy" rating and lifted their price target for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. 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 stock. According to MarketBeat.com, Zoom Video Communications currently has a consensus rating of "Hold" and an average target price of $89.33.

Remove Ads

Zoom Video Communications Stock Performance

NASDAQ ZM traded down $0.07 during trading on Tuesday, reaching $78.13. The company's stock had a trading volume of 1,586,158 shares, compared to its average volume of 3,042,087. The business's fifty day moving average price is $79.95 and its 200-day moving average price is $78.11. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The firm has a market cap of $23.85 billion, a price-to-earnings ratio of 26.04, a P/E/G ratio of 5.48 and a beta of 0.26.

Insider Buying and Selling

In related news, CEO Eric S. Yuan sold 75,531 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 10,817 shares of Zoom Video Communications stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $851,189.73. Following the completion of the sale, the insider now directly owns 117,760 shares in the company, valued at $9,266,534.40. This represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 369,271 shares of company stock valued at $29,496,892 over the last quarter. 10.78% of the stock is currently owned by insiders.

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.