Harvest Fund Management Co. Ltd bought a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,501 shares of the company's stock, valued at approximately $366,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Global X Japan Co. Ltd. increased its stake in Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after buying an additional 190 shares during the period. Parkside Financial Bank & Trust grew its stake in 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 acquiring an additional 258 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after acquiring an additional 265 shares during the period. Geneos Wealth Management Inc. purchased a new stake in shares of Zoom Video Communications in the fourth quarter valued at approximately $39,000. Finally, Truvestments Capital LLC bought a new position in Zoom Video Communications in the third quarter worth approximately $37,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 10,817 shares of Zoom Video Communications stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $851,189.73. Following the sale, the insider now owns 117,760 shares of the company's stock, valued at approximately $9,266,534.40. The trade was a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 369,271 shares of company stock valued at $29,496,892. Insiders own 10.78% of the company's stock.
Zoom Video Communications Stock Performance
ZM stock traded up $0.45 during trading on Tuesday, reaching $78.65. The company had a trading volume of 336,428 shares, compared to its average volume of 3,038,827. The company has a market cap of $24.01 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The firm has a 50-day simple moving average of $79.97 and a 200-day simple moving average of $78.03.
Analyst Ratings Changes
ZM has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their target price on Zoom Video Communications from $72.00 to $86.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Evercore ISI raised shares of Zoom Video Communications from an "in-line" rating to an "outperform" rating and upped their price objective for the stock from $70.00 to $115.00 in a research note on Tuesday, November 26th. Cantor Fitzgerald reiterated a "neutral" rating and set a $87.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Hsbc Global Res upgraded shares of Zoom Video Communications to a "strong-buy" rating in a report on Tuesday, November 26th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Zoom Video Communications currently has an average rating of "Hold" and an average target price of $89.33.
Read Our Latest Stock Report on Zoom Video Communications
Zoom Video Communications Profile
(
Free Report)
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.
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