Franklin Resources Inc. Boosts Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Franklin Resources Inc. raised its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 24.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 412,616 shares of the company's stock after acquiring an additional 80,834 shares during the quarter. Franklin Resources Inc. owned approximately 0.13% of Zoom Video Communications worth $33,673,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Global X Japan Co. Ltd. lifted its stake in shares of 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 lifted its position 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 increased its position in shares of Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after buying an additional 258 shares during the period. Geneos Wealth Management Inc. bought a new position in Zoom Video Communications during the fourth quarter worth $39,000. Finally, MRP Capital Investments LLC lifted its holdings in Zoom Video Communications by 500.0% in the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock valued at $49,000 after buying an additional 500 shares during the period. Institutional investors own 66.54% of the company's stock.

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Insiders Place Their Bets

In related news, CAO Shane Crehan sold 1,412 shares of the business's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $111,110.28. Following the sale, the chief accounting officer now directly owns 5,404 shares in the company, valued at approximately $425,240.76. The trade was a 20.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 337,995 shares of company stock valued at $27,033,729. Company insiders own 10.78% of the company's stock.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM traded down $3.13 during mid-day trading on Thursday, reaching $68.70. 1,088,578 shares of the company's stock were exchanged, compared to its average volume of 3,096,297. The firm has a market capitalization of $20.97 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. The firm has a 50-day moving average price of $77.39 and a two-hundred day moving average price of $78.40. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ZM shares. Rosenblatt Securities reissued a "buy" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Citigroup cut their price target on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. Stifel Nicolaus lowered their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a research note on Tuesday, February 25th. Scotiabank dropped their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating on the stock in a research report on Monday, March 17th. Finally, Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $89.33.

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.