Fmr LLC Purchases 282,645 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

FMR LLC grew its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,727,532 shares of the company's stock after buying an additional 282,645 shares during the quarter. FMR LLC owned 4.15% of Zoom Video Communications worth $1,038,694,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of ZM. Global X Japan Co. Ltd. raised its position in Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after acquiring an additional 190 shares during the period. Avior Wealth Management LLC raised its holdings in shares of Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after purchasing an additional 265 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after purchasing an additional 258 shares during the period. Geneos Wealth Management Inc. purchased a new position in Zoom Video Communications in the fourth quarter valued at approximately $39,000. Finally, MRP Capital Investments LLC grew its holdings in Zoom Video Communications by 500.0% during the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock valued at $49,000 after purchasing an additional 500 shares during the period. 66.54% of the stock is owned by institutional investors.

Remove Ads

Analyst Ratings Changes

ZM has been the topic of several research reports. Barclays lowered their target price on 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. Scotiabank dropped their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating on the stock in a report on Monday, March 17th. UBS Group cut their target price 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. Rosenblatt Securities reissued a "buy" rating and issued a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Wednesday, March 19th. Fifteen equities 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 stock. According to data from MarketBeat, Zoom Video Communications presently has a consensus rating of "Hold" and an average price target of $89.33.

Insider Activity at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 83,332 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the completion of the sale, the director now directly owns 1,514 shares of the company's stock, valued at $121,619.62. This trade represents a 94.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 316,449 shares of company stock valued at $25,338,274 over the last 90 days. 10.78% of the stock is owned by insiders.

Zoom Video Communications Trading Up 2.5 %

Shares of Zoom Video Communications stock traded up $1.73 on Friday, hitting $71.34. 1,929,318 shares of the company traded hands, compared to its average volume of 3,104,395. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The company has a market cap of $21.78 billion, a P/E ratio of 23.78, a P/E/G ratio of 5.48 and a beta of 0.67. The firm's 50-day simple moving average is $76.77 and its 200 day simple moving average is $78.49.

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.