Optimize Financial Inc bought a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,484 shares of the company's stock, valued at approximately $1,182,000. Zoom Video Communications makes up about 0.9% of Optimize Financial Inc's portfolio, making the stock its 29th largest holding.
Several other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its position in shares of Zoom Video Communications by 2.3% in the 4th quarter. FMR LLC now owns 12,727,532 shares of the company's stock worth $1,038,694,000 after purchasing an additional 282,645 shares in the last quarter. Norges Bank purchased a new stake in Zoom Video Communications in the fourth quarter valued at about $751,908,000. Geode Capital Management LLC boosted its holdings in Zoom Video Communications by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock worth $377,429,000 after acquiring an additional 28,725 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Zoom Video Communications by 9.7% during the fourth quarter. Renaissance Technologies LLC now owns 4,304,848 shares of the company's stock worth $351,319,000 after acquiring an additional 380,900 shares during the last quarter. Finally, FIL Ltd increased its holdings in shares of Zoom Video Communications by 3.7% during the fourth quarter. FIL Ltd now owns 3,012,007 shares of the company's stock valued at $245,810,000 after acquiring an additional 108,075 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.
Zoom Video Communications Stock Performance
Shares of Zoom Video Communications stock traded up $0.42 on Tuesday, hitting $72.40. The company's stock had a trading volume of 1,916,918 shares, compared to its average volume of 3,092,890. The company has a market capitalization of $22.10 billion, a price-to-earnings ratio of 24.13, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The firm has a fifty day moving average price of $76.20 and a 200-day moving average price of $78.47.
Analysts Set New Price Targets
A number of analysts recently commented on the stock. UBS Group lowered their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Cantor Fitzgerald reiterated a "neutral" rating and set a $87.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Needham & Company LLC reissued a "hold" rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Wells Fargo & Company upgraded Zoom Video Communications from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. Finally, Citigroup dropped their price target on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 18th. Fifteen equities 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $87.71.
Check Out Our Latest Report on ZM
Insider Buying and Selling at Zoom Video Communications
In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the firm'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 transaction, the director now owns 169,452 shares in the company, valued at approximately $13,193,532.72. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 186,338 shares of company stock valued at $15,054,153. Company insiders own 10.78% of the company's stock.
About Zoom Video Communications
(
Free Report)
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.
Featured Stories
Before you consider Zoom Video Communications, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Zoom Video Communications wasn't on the list.
While Zoom Video Communications currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
