Nordea Investment Management AB Acquires 521,778 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Nordea Investment Management AB increased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 202.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 779,051 shares of the company's stock after buying an additional 521,778 shares during the quarter. Nordea Investment Management AB owned 0.25% of Zoom Video Communications worth $64,054,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in shares of Zoom Video Communications during the third quarter worth $37,000. Allworth Financial LP increased its holdings in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company's stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of Zoom Video Communications by 56.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company's stock valued at $53,000 after purchasing an additional 274 shares during the period. GAMMA Investing LLC raised its stake in shares of Zoom Video Communications by 27.1% in the 4th 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 period. Finally, True Wealth Design LLC lifted its holdings in shares of Zoom Video Communications by 10,763.6% in the third quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock valued at $83,000 after purchasing an additional 1,184 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors.

Insider Transactions at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,776 shares of the business's stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $69.51, for a total transaction of $123,449.76. Following the completion of the sale, the chief accounting officer now directly owns 1,789 shares of the company's stock, valued at $124,353.39. The trade was a 49.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Velchamy Sankarlingam sold 10,338 shares of the firm's stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $69.51, for a total transaction of $718,594.38. Following the completion of the transaction, the insider now directly owns 104,414 shares in the company, valued at approximately $7,257,817.14. The trade was a 9.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 350,429 shares of company stock valued at $27,039,704 in the last 90 days. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Stock Down 0.7 %

ZM traded down $0.55 during trading on Wednesday, hitting $79.90. The company's stock had a trading volume of 2,850,714 shares, compared to its average volume of 2,168,359. The firm has a market capitalization of $24.49 billion, a P/E ratio of 26.63, a PEG ratio of 5.29 and a beta of -0.01. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The stock's fifty day moving average price is $82.67 and its 200-day moving average price is $70.64.

Analyst Ratings Changes

A number of equities analysts have recently commented on ZM shares. Jefferies Financial Group upgraded shares of Zoom Video Communications from a "hold" rating to a "buy" rating and increased their price objective for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. Royal Bank of Canada reissued an "outperform" rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Mizuho boosted their price target on Zoom Video Communications from $90.00 to $105.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 26th. The Goldman Sachs Group increased their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Finally, Hsbc Global Res raised shares of Zoom Video Communications to a "strong-buy" rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $87.81.

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.