Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP lifted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,533,493 shares of the company's stock after buying an additional 37,294 shares during the period. First Trust Advisors LP owned approximately 0.50% of Zoom Video Communications worth $125,148,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ZM. Adero Partners LLC increased its stake in shares of Zoom Video Communications by 2.4% in the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company's stock worth $450,000 after acquiring an additional 129 shares during the period. MML Investors Services LLC grew its stake in shares of Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company's stock worth $655,000 after purchasing an additional 132 shares during the period. GAMMA Investing LLC increased its holdings in shares of Zoom Video Communications by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company's stock valued at $63,000 after purchasing an additional 164 shares in the last quarter. Principal Securities Inc. increased its holdings in Zoom Video Communications by 26.9% in the fourth quarter. Principal Securities Inc. now owns 783 shares of the company's stock valued at $64,000 after buying an additional 166 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Zoom Video Communications by 4.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock worth $330,000 after acquiring an additional 168 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 transaction, the insider now owns 125,529 shares of the company's stock, valued at approximately $9,026,790.39. This trade represents a 8.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. Insiders sold a total of 242,897 shares of company stock valued at $18,941,111 over the last quarter. 10.78% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on ZM. Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Benchmark reaffirmed a "buy" rating and set a $97.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. 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. UBS Group reduced their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company dropped their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Fifteen research 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. According to data from MarketBeat, Zoom Video Communications presently has an average rating of "Hold" and a consensus price target of $85.90.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM traded up $0.54 during midday trading on Friday, reaching $76.03. 1,300,179 shares of the stock were exchanged, compared to its average volume of 3,052,853. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The stock has a market capitalization of $23.21 billion, a P/E ratio of 25.34, a PEG ratio of 5.48 and a beta of 0.67. The company has a 50 day simple moving average of $74.20 and a 200 day simple moving average of $78.63.

About Zoom Video Communications

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.