322,800 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 322,800 shares of the company's stock, valued at approximately $26,344,000. KLP Kapitalforvaltning AS owned 0.11% of Zoom Video Communications as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. raised its position in shares of Zoom Video Communications by 10.3% in the 4th quarter. American Century Companies Inc. now owns 259,176 shares of the company's stock worth $21,151,000 after acquiring an additional 24,261 shares in the last quarter. Sciencast Management LP purchased a new stake in Zoom Video Communications in the fourth quarter worth $1,512,000. MRP Capital Investments LLC raised its holdings in Zoom Video Communications by 500.0% in the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock worth $49,000 after purchasing an additional 500 shares in the last quarter. DCF Advisers LLC lifted its position in Zoom Video Communications by 28.6% during the fourth quarter. DCF Advisers LLC now owns 22,500 shares of the company's stock valued at $1,836,000 after buying an additional 5,000 shares during the period. Finally, Contrarius Group Holdings Ltd purchased a new position in Zoom Video Communications during the fourth quarter valued at $72,854,000. Institutional investors own 66.54% of the company's stock.

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Insiders Place Their Bets

In related news, CEO Eric S. Yuan sold 75,531 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Velchamy Sankarlingam sold 10,817 shares of Zoom Video Communications 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 $851,189.73. Following the completion of the transaction, the insider now directly owns 117,760 shares in the company, valued at approximately $9,266,534.40. The trade was a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 369,271 shares of company stock worth $29,496,892 in the last ninety days. 10.78% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ZM. Mizuho raised their price target on Zoom Video Communications from $90.00 to $105.00 and gave the company an "outperform" rating in a report on Tuesday, November 26th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Wednesday, March 19th. Needham & Company LLC reiterated a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Bank of America raised their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Finally, Jefferies Financial Group raised Zoom Video Communications from a "hold" rating to a "buy" rating and upped their price objective for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. Fifteen 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 MarketBeat, the company has an average rating of "Hold" and a consensus price target of $89.33.

Zoom Video Communications Trading Up 2.9 %

Shares of NASDAQ ZM traded up $2.23 during mid-day trading on Monday, reaching $78.20. The company had a trading volume of 1,969,972 shares, compared to its average volume of 3,038,958. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The business's 50-day moving average is $79.98 and its 200-day moving average is $77.95. The stock has a market cap of $23.87 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.

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.