Geode Capital Management LLC Acquires 28,725 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Geode Capital Management LLC raised its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,624,160 shares of the company's stock after purchasing an additional 28,725 shares during the period. Geode Capital Management LLC owned about 1.51% of Zoom Video Communications worth $377,429,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Adero Partners LLC raised its stake in shares of Zoom Video Communications by 2.4% in the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company's stock valued at $450,000 after acquiring an additional 129 shares during the period. MML Investors Services LLC grew its position in shares of Zoom Video Communications by 1.4% in the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company's stock worth $655,000 after acquiring an additional 132 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company's stock valued at $322,000 after acquiring an additional 154 shares during the last quarter. GAMMA Investing LLC raised its position 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 acquiring an additional 164 shares in the last quarter. Finally, Principal Securities Inc. boosted 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 worth $64,000 after purchasing an additional 166 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ZM. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $87.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Wells Fargo & Company upgraded Zoom Video Communications from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Scotiabank reduced their price objective on Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating for the company in a research report on Monday, March 17th. Royal Bank of Canada reiterated an "outperform" rating and issued 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 upped their price target for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Fifteen investment 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 data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of "Hold" and an average target price of $89.33.

Zoom Video Communications Stock Down 5.1 %

Shares of Zoom Video Communications stock traded down $3.66 during trading on Thursday, reaching $68.17. 1,231,735 shares of the company were exchanged, compared to its average volume of 2,636,878. 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 capitalization of $20.81 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 5.48 and a beta of 0.67. The business has a 50-day moving average price of $77.39 and a 200-day moving average price of $78.40.

Insider Buying and Selling at Zoom Video Communications

In related news, COO Aparna Bawa sold 9,317 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the sale, the chief operating officer now directly owns 14,053 shares of the company's stock, valued at approximately $1,105,830.57. This represents a 39.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric S. Yuan sold 75,531 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 sold 337,995 shares of company stock valued at $27,033,729. Corporate insiders own 10.78% of the company's stock.

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.