Meeder Asset Management Inc. Takes $596,000 Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Meeder Asset Management Inc. acquired a new stake 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 firm acquired 7,303 shares of the company's stock, valued at approximately $596,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Adero Partners LLC raised its position in Zoom Video Communications by 2.4% in the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company's stock valued at $450,000 after purchasing an additional 129 shares during the last quarter. Itau Unibanco Holding S.A. grew its stake in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company's stock valued at $497,000 after buying an additional 131 shares during the period. MML Investors Services LLC boosted its position in shares of Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company's stock worth $655,000 after buying an additional 132 shares during the period. MetLife Investment Management LLC increased its position in shares of Zoom Video Communications by 3.4% during the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company's stock worth $322,000 after acquiring an additional 154 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Zoom Video Communications by 27.1% during the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company's stock valued at $63,000 after purchasing an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

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Zoom Video Communications Stock Up 1.4 %

Shares of ZM traded up $1.02 during midday trading on Wednesday, hitting $75.04. The company's stock had a trading volume of 1,412,208 shares, compared to its average volume of 3,086,987. The stock has a market capitalization of $22.90 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The company's fifty day simple moving average is $79.52 and its two-hundred day simple moving average is $78.38.

Insiders Place Their Bets

In other news, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $77.86, for a total value of $192,703.50. Following the completion of the sale, the director now directly owns 169,452 shares in the company, valued at approximately $13,193,532.72. The trade was a 1.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 33,751 shares of the firm's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $78.69, for a total transaction of $2,655,866.19. Following the completion of the sale, the chief executive officer now directly owns 34,703 shares of the company's stock, valued at approximately $2,730,779.07. This represents a 49.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 371,746 shares of company stock worth $29,689,595. 10.78% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ZM has been the subject of several research reports. Royal Bank of Canada reissued an "outperform" rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Jefferies Financial Group upgraded Zoom Video Communications from a "hold" rating to a "buy" rating and boosted their target price for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Scotiabank reduced their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating for the company in a report on Monday, March 17th. Citigroup lowered their price target on shares of Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. Finally, Stifel Nicolaus decreased their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. Fifteen research 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, Zoom Video Communications currently has an average rating of "Hold" and an average price target of $89.33.

Zoom Video Communications 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.