Pictet Asset Management Holding SA Has $13.91 Million Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Pictet Asset Management Holding SA lifted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 78.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 170,451 shares of the company's stock after purchasing an additional 74,844 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Zoom Video Communications worth $13,911,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Zoom Video Communications in the fourth quarter valued at about $751,908,000. State Street Corp raised its position in shares of Zoom Video Communications by 2.3% in the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company's stock valued at $425,853,000 after buying an additional 134,559 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Zoom Video Communications by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company's stock worth $320,177,000 after acquiring an additional 184,518 shares during the period. Two Sigma Advisers LP increased its stake in 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 acquiring an additional 128,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Zoom Video Communications by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,367,055 shares of the company's stock valued at $111,565,000 after purchasing an additional 69,612 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ZM. Scotiabank decreased their price target on Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating on the stock in a research note on Monday, March 17th. Citigroup decreased their target price on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 18th. Wells Fargo & Company raised shares of Zoom Video Communications from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $70.00 to $85.00 in a report on Tuesday, January 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $95.00 price target on shares of Zoom Video Communications in a report on Wednesday, March 19th. Finally, Barclays lowered their price objective on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Fifteen 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's stock. Based on data from MarketBeat, Zoom Video Communications presently has an average rating of "Hold" and a consensus price target of $89.33.

Zoom Video Communications Price Performance

Shares of ZM traded down $1.79 during trading hours on Thursday, hitting $73.25. 2,530,160 shares of the stock were exchanged, compared to its average volume of 3,085,790. The firm has a market capitalization of $22.36 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The business has a 50-day moving average of $79.52 and a 200-day moving average of $78.38.

Insider Buying and Selling at Zoom Video Communications

In related news, COO Aparna Bawa sold 9,317 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the transaction, the chief operating officer now directly owns 14,053 shares of the company's stock, valued at $1,105,830.57. This represents a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 371,746 shares of company stock valued at $29,689,595. 10.78% of the stock is currently owned by 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.