Harvest Fund Management Co. Ltd Makes New Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Harvest Fund Management Co. Ltd purchased a new position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,501 shares of the company's stock, valued at approximately $366,000.

A number of other large investors also recently added to or reduced their stakes in ZM. Global X Japan Co. Ltd. raised its holdings in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after acquiring an additional 190 shares during 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 purchasing an additional 265 shares in the last quarter. Parkside Financial Bank & Trust raised 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 valued at $29,000 after purchasing an additional 258 shares during the last quarter. Truvestments Capital LLC purchased a new position in Zoom Video Communications in the 3rd quarter valued at $37,000. Finally, Geneos Wealth Management Inc. acquired a new stake in Zoom Video Communications during the 4th quarter worth $39,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on ZM. Jefferies Financial Group upgraded shares of Zoom Video Communications from a "hold" rating to a "buy" rating and increased their target price for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. Barclays decreased their target price on shares of 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. Citigroup dropped their price target on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating for the company in a research report on Tuesday, February 18th. Rosenblatt Securities reissued a "buy" rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Finally, Sanford C. Bernstein raised their target price on Zoom Video Communications from $78.00 to $89.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 26th. 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $89.33.

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Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, Director Jonathan Chadwick sold 25,000 shares of the firm's stock in a transaction that occurred 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 sale, the director now owns 1,514 shares of the company's stock, valued at approximately $121,619.62. This trade represents a 94.29 % decrease in their ownership of the stock. 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 118,036 shares of the company's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $79.03, for a total transaction of $9,328,385.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 369,271 shares of company stock valued at $29,496,892. 10.78% of the stock is currently owned by company insiders.

Zoom Video Communications Trading Down 0.4 %

ZM traded down $0.35 during trading hours on Wednesday, hitting $77.78. 1,314,378 shares of the company's stock were exchanged, compared to its average volume of 3,029,034. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The firm has a market cap of $23.74 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. The firm has a 50 day moving average of $79.95 and a 200 day moving average of $78.11.

About Zoom Video Communications

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.