Zoom Video Communications, Inc. (NASDAQ:ZM) Stock Position Raised by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 22.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,644 shares of the company's stock after acquiring an additional 3,801 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Zoom Video Communications were worth $1,705,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company's stock valued at $867,906,000 after acquiring an additional 2,395,396 shares in the last quarter. State Street Corp raised its position in Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company's stock valued at $425,853,000 after purchasing an additional 134,559 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Zoom Video Communications by 4.4% during the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company's stock worth $382,188,000 after purchasing an additional 233,241 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Zoom Video Communications by 4.2% in the third quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company's stock worth $320,177,000 after buying an additional 184,518 shares during the period. Finally, Two Sigma Advisers LP grew its stake in shares of Zoom Video Communications by 9.8% in the third quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company's stock valued at $101,032,000 after buying an additional 128,800 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

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Zoom Video Communications Stock Up 2.9 %

Zoom Video Communications stock traded up $2.23 during trading hours on Monday, hitting $78.20. 1,969,972 shares of the company traded hands, compared to its average volume of 3,038,958. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The firm has a market cap of $23.87 billion, a P/E ratio of 26.07, a P/E/G ratio of 5.48 and a beta of 0.26. The firm's 50-day simple moving average is $79.98 and its two-hundred day simple moving average is $77.95.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZM. Needham & Company LLC reaffirmed a "hold" rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. The Goldman Sachs Group lifted their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Stifel Nicolaus reduced their target price on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a research note on Tuesday, February 25th. Piper Sandler lifted their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Finally, Sanford C. Bernstein increased their price objective on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a "market perform" rating in a research note on Tuesday, November 26th. Fifteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $89.33.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 75,531 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 can be accessed through this hyperlink. Also, insider Velchamy Sankarlingam sold 10,817 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $851,189.73. Following the completion of the transaction, the insider now directly owns 117,760 shares in the company, valued at $9,266,534.40. This represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 369,271 shares of company stock worth $29,496,892 over the last quarter. 10.78% of the stock is currently owned by company insiders.

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.