FIL Ltd Purchases 108,075 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

FIL Ltd grew its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,012,007 shares of the company's stock after acquiring an additional 108,075 shares during the period. FIL Ltd owned about 0.98% of Zoom Video Communications worth $245,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Invesco Ltd. lifted its stake in shares of Zoom Video Communications by 7.7% during the 4th quarter. Invesco Ltd. now owns 649,304 shares of the company's stock valued at $52,990,000 after buying an additional 46,666 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Zoom Video Communications by 21.5% in the fourth quarter. Cerity Partners LLC now owns 112,324 shares of the company's stock worth $9,122,000 after acquiring an additional 19,860 shares during the period. FMR LLC boosted its stake in shares of Zoom Video Communications by 2.3% in the fourth quarter. FMR LLC now owns 12,727,532 shares of the company's stock worth $1,038,694,000 after acquiring an additional 282,645 shares during the period. Federated Hermes Inc. grew its position in shares of Zoom Video Communications by 3.4% during the fourth quarter. Federated Hermes Inc. now owns 710,716 shares of the company's stock worth $58,006,000 after purchasing an additional 23,517 shares in the last quarter. Finally, Oribel Capital Management LP bought a new stake in Zoom Video Communications during the 4th quarter valued at approximately $7,867,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several research analysts have weighed in on ZM shares. Barclays dropped their price target 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. Citigroup cut their target price 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. Stifel Nicolaus reduced their price target 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. Wells Fargo & Company raised shares of Zoom Video Communications from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Finally, Jefferies Financial Group raised Zoom Video Communications from a "hold" rating to a "buy" rating and lifted their target price for the stock from $85.00 to $100.00 in a report on Thursday, December 19th. Fifteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $89.33.

Insider Transactions at Zoom Video Communications

In other news, COO Aparna Bawa sold 12,075 shares of the company's stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $79.15, for a total value of $955,736.25. Following the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $156,558.70. This represents a 85.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the sale, the director now owns 169,452 shares of the company's stock, valued at $13,193,532.72. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,413 shares of company stock worth $16,009,889. 10.78% of the stock is currently owned by company insiders.

Zoom Video Communications Stock Up 1.9 %

Zoom Video Communications stock traded up $1.32 during midday trading on Monday, reaching $72.66. The stock had a trading volume of 563,057 shares, compared to its average volume of 3,094,505. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The company has a fifty day moving average of $76.77 and a 200 day moving average of $78.49. The firm has a market cap of $22.18 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67.

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.