Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Purchased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd increased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 210,063 shares of the company's stock after buying an additional 29,206 shares during the quarter. Mediolanum International Funds Ltd owned 0.07% of Zoom Video Communications worth $17,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ZM. FMR LLC lifted its holdings in shares of Zoom Video Communications by 23.8% during the third quarter. FMR LLC now owns 12,444,887 shares of the company's stock worth $867,906,000 after purchasing an additional 2,395,396 shares during the period. Eagle Asset Management Inc. acquired a new stake in Zoom Video Communications during the 3rd quarter valued at approximately $62,038,000. Assenagon Asset Management S.A. boosted its holdings in shares of Zoom Video Communications by 126.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company's stock valued at $102,119,000 after acquiring an additional 699,625 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Zoom Video Communications by 202.8% in the fourth quarter. Nordea Investment Management AB now owns 779,051 shares of the company's stock worth $64,054,000 after acquiring an additional 521,778 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of Zoom Video Communications by 6,614.6% during the third quarter. International Assets Investment Management LLC now owns 499,966 shares of the company's stock worth $34,868,000 after purchasing an additional 492,520 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zoom Video Communications

In related news, Director Jonathan Chadwick sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the completion of the sale, the director now owns 1,514 shares in the company, valued at $121,619.62. The trade was a 94.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 3,618 shares of the company's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the completion of the transaction, the insider now directly owns 107,826 shares of the company's stock, valued at $9,158,740.44. This trade represents a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 298,910 shares of company stock valued at $24,041,053 in the last quarter. Corporate insiders own 10.78% of the company's stock.

Zoom Video Communications Price Performance

Shares of ZM stock traded down $0.19 during trading on Tuesday, reaching $85.93. The company's stock had a trading volume of 810,385 shares, compared to its average volume of 2,290,142. The company has a market capitalization of $26.34 billion and a price-to-earnings ratio of 28.64. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The stock's 50-day moving average price is $83.02 and its 200 day moving average price is $73.77.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Evercore ISI upgraded 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 report on Tuesday, November 26th. Wedbush started coverage on shares of Zoom Video Communications in a research note on Thursday, October 17th. They set an "outperform" rating and a $85.00 target price on the stock. Bank of America boosted their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. JMP Securities restated a "market perform" rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Finally, Barclays lifted their target price on shares of Zoom Video Communications from $70.00 to $85.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 27th. Sixteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $89.10.

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.