Proficio Capital Partners LLC acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,833 shares of the company's stock, valued at approximately $966,000.
Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Zoom Video Communications by 23.8% during the third quarter. FMR LLC now owns 12,444,887 shares of the company's stock worth $867,906,000 after buying an additional 2,395,396 shares in the last quarter. State Street Corp boosted its stake in shares of Zoom Video Communications by 2.3% during the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company's stock worth $425,853,000 after acquiring an additional 134,559 shares in the last quarter. Pacer Advisors Inc. increased its stake in Zoom Video Communications by 4.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company's stock valued at $382,188,000 after purchasing an additional 233,241 shares in the last quarter. Geode Capital Management LLC raised its holdings in Zoom Video Communications by 4.2% during the third quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company's stock worth $320,177,000 after purchasing an additional 184,518 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in Zoom Video Communications by 9.8% during the third quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company's stock worth $101,032,000 after purchasing an additional 128,800 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.
Zoom Video Communications Stock Performance
Shares of NASDAQ ZM traded down $0.32 during mid-day trading on Tuesday, reaching $73.15. The company had a trading volume of 2,772,460 shares, compared to its average volume of 2,764,626. The company has a market capitalization of $22.42 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 5.48 and a beta of 0.26. The stock has a fifty day moving average of $81.12 and a two-hundred day moving average of $77.65. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on ZM. Barclays dropped their price target on 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. Sanford C. Bernstein lifted their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 26th. UBS Group lowered their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. JMP Securities restated a "market perform" rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Finally, Mizuho upped their target price on Zoom Video Communications from $90.00 to $105.00 and gave the company an "outperform" rating in a research note on Tuesday, November 26th. Fifteen equities research 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. According to data from MarketBeat.com, Zoom Video Communications currently has an average rating of "Hold" and an average target price of $90.05.
Read Our Latest Stock Analysis on ZM
Insider Activity
In related news, COO Aparna Bawa sold 9,317 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 transaction of $733,154.73. Following the completion of the sale, the chief operating officer now directly owns 14,053 shares of the company's stock, valued at approximately $1,105,830.57. This represents a 39.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 75,531 shares of Zoom Video Communications stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 369,271 shares of company stock worth $29,496,892 in the last ninety days. Corporate 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.
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