Zoom Video Communications, Inc. (NASDAQ:ZM) Stake Raised by Glenmede Trust Co. NA

Glenmede Trust Co. NA lifted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 264,071 shares of the company's stock after acquiring an additional 13,513 shares during the period. Glenmede Trust Co. NA owned 0.09% of Zoom Video Communications worth $18,416,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. FMR LLC grew its position in Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company's stock valued at $867,906,000 after buying an additional 2,395,396 shares during the last quarter. AQR Capital Management LLC grew its position in Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company's stock valued at $337,233,000 after buying an additional 2,520,987 shares during the last quarter. Pacer Advisors Inc. grew its position in Zoom Video Communications by 4.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company's stock valued at $382,188,000 after buying an additional 233,241 shares during the last quarter. Acadian Asset Management LLC grew its position in Zoom Video Communications by 60.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company's stock valued at $290,153,000 after buying an additional 1,855,679 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Zoom Video Communications by 24.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company's stock valued at $80,827,000 after buying an additional 264,217 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 178,571 shares of the company's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Shane Crehan sold 1,550 shares of the company's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $103,648.50. Following the completion of the sale, the chief accounting officer now owns 1,463 shares of the company's stock, valued at approximately $97,830.81. This trade represents a 51.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 367,108 shares of company stock worth $26,796,191 in the last three months. 10.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Benchmark raised their target price on Zoom Video Communications from $85.00 to $97.00 and gave the company a "buy" rating in a report on Tuesday. Sanford C. Bernstein raised their target price on Zoom Video Communications from $78.00 to $89.00 and gave the company a "market perform" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised their target price on Zoom Video Communications from $71.00 to $75.00 and gave the company a "hold" rating in a report on Friday, August 23rd. Wedbush assumed coverage on Zoom Video Communications in a research note on Thursday, October 17th. They set an "outperform" rating and a $85.00 price target for the company. Finally, Barclays lifted their price target on Zoom Video Communications from $70.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $85.19.

Zoom Video Communications Stock Down 3.1 %

Shares of ZM traded down $2.67 during trading on Friday, reaching $82.69. The company's stock had a trading volume of 3,233,858 shares, compared to its average volume of 3,355,966. The company has a fifty day moving average of $74.92 and a two-hundred day moving average of $66.16. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market cap of $25.45 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 5.69 and a beta of -0.05.

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.