Invesco Ltd. Has $52.99 Million Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Invesco Ltd. raised its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 649,304 shares of the company's stock after buying an additional 46,666 shares during the period. Invesco Ltd. owned about 0.21% of Zoom Video Communications worth $52,990,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Cerity Partners LLC increased its holdings in shares of Zoom Video Communications by 21.5% in the 4th quarter. Cerity Partners LLC now owns 112,324 shares of the company's stock valued at $9,122,000 after acquiring an additional 19,860 shares during the last quarter. FMR LLC boosted its position in shares of Zoom Video Communications by 2.3% during the fourth quarter. FMR LLC now owns 12,727,532 shares of the company's stock worth $1,038,694,000 after buying an additional 282,645 shares during the period. Federated Hermes Inc. grew its holdings in Zoom Video Communications by 3.4% in the 4th quarter. Federated Hermes Inc. now owns 710,716 shares of the company's stock worth $58,006,000 after buying an additional 23,517 shares in the last quarter. Oribel Capital Management LP acquired a new stake in Zoom Video Communications in the 4th quarter valued at approximately $7,867,000. Finally, Russell Investments Group Ltd. increased its position in Zoom Video Communications by 17.7% in the 4th quarter. Russell Investments Group Ltd. now owns 421,517 shares of the company's stock valued at $34,705,000 after acquiring an additional 63,378 shares during the period. Institutional investors and hedge funds own 66.54% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ZM shares. Citigroup decreased their target price 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 cut their price objective on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. Barclays dropped 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 report on Wednesday, February 26th. Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Jefferies Financial Group raised Zoom Video Communications from a "hold" rating to a "buy" rating and lifted their target price for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Zoom Video Communications presently has a consensus rating of "Hold" and a consensus target price of $86.62.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM traded up $0.29 during midday trading on Friday, reaching $71.49. 1,434,603 shares of the company traded hands, compared to its average volume of 3,082,843. The firm has a market cap of $21.82 billion, a PE ratio of 23.83, a PEG ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The stock's 50-day simple moving average is $75.59 and its 200-day simple moving average is $78.43.

Insider Activity

In other Zoom Video Communications news, COO Aparna Bawa sold 16,099 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the completion of the transaction, the chief operating officer now owns 1,978 shares in the company, valued at approximately $143,583.02. This represents a 89.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric S. Yuan sold 83,332 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 242,897 shares of company stock worth $18,941,111. 10.78% of the stock is owned by corporate insiders.

Zoom Video Communications Company 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.