103,506 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA acquired a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 103,506 shares of the company's stock, valued at approximately $8,447,000.

Other hedge funds also recently modified their holdings of the company. Global X Japan Co. Ltd. lifted its position in Zoom Video Communications by 127.5% during 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 in the last quarter. Avior Wealth Management LLC lifted 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 grew its stake in shares of Zoom Video Communications by 277.4% during the fourth 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. Geneos Wealth Management Inc. bought a new stake in shares of Zoom Video Communications during the fourth quarter valued at approximately $39,000. Finally, MRP Capital Investments LLC raised its position in Zoom Video Communications by 500.0% in the 4th quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock worth $49,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

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Insider Activity at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 118,036 shares of the firm's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $79.03, for a total transaction of $9,328,385.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Aparna Bawa sold 12,075 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $79.15, for a total transaction of $955,736.25. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $156,558.70. This represents a 85.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 316,449 shares of company stock worth $25,338,274. Insiders own 10.78% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ZM. Rosenblatt Securities reissued a "buy" rating and set a $95.00 price objective on shares of Zoom Video Communications in a report on Wednesday, March 19th. Needham & Company LLC reissued a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Morgan Stanley raised their price objective on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 18th. Wells Fargo & Company raised shares of Zoom Video Communications from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $70.00 to $85.00 in a report on Tuesday, January 7th. Finally, Stifel Nicolaus cut their price target on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a research note on Tuesday, February 25th. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $89.33.

Zoom Video Communications Price Performance

ZM stock traded up $1.73 during mid-day trading on Friday, reaching $71.34. The company had a trading volume of 1,929,318 shares, compared to its average volume of 3,102,858. The company has a market capitalization of $21.78 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The stock has a 50 day simple moving average of $76.77 and a two-hundred day simple moving average of $78.43.

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.