Raymond James Financial Inc. bought a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 1,218,852 shares of the company's stock, valued at approximately $99,471,000. Raymond James Financial Inc. owned about 0.40% of Zoom Video Communications at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Arizona State Retirement System grew its holdings in Zoom Video Communications by 0.7% in the 4th quarter. Arizona State Retirement System now owns 72,266 shares of the company's stock valued at $5,898,000 after buying an additional 517 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Zoom Video Communications in the fourth quarter valued at approximately $966,000. M&T Bank Corp grew its stake in shares of Zoom Video Communications by 3.7% in the fourth quarter. M&T Bank Corp now owns 12,010 shares of the company's stock worth $980,000 after acquiring an additional 425 shares during the last quarter. Victory Capital Management Inc. increased its position in Zoom Video Communications by 3.3% during the fourth quarter. Victory Capital Management Inc. now owns 640,219 shares of the company's stock worth $52,248,000 after acquiring an additional 20,735 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Zoom Video Communications by 5.4% during the 4th 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 during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Zoom Video Communications
In related news, COO Aparna Bawa sold 9,317 shares of Zoom Video Communications stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the completion of the sale, the chief operating officer now directly owns 14,053 shares in the company, valued at $1,105,830.57. This trade represents a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 118,036 shares of the business's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $79.03, for a total value of $9,328,385.08. The disclosure for this sale can be found here. Insiders sold a total of 369,271 shares of company stock valued at $29,496,892 over the last quarter. Corporate insiders own 10.78% of the company's stock.
Analyst Ratings Changes
Several research firms have issued reports on ZM. Cantor Fitzgerald restated a "neutral" rating and issued a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Morgan Stanley lifted their target price on Zoom Video Communications from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their price target on Zoom Video Communications from $72.00 to $86.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Barclays reduced their price objective 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. Finally, Piper Sandler upped their target price on Zoom Video Communications from $68.00 to $89.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Fifteen investment 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $90.05.
View Our Latest Research Report on Zoom Video Communications
Zoom Video Communications Stock Performance
ZM traded up $0.80 during midday trading on Wednesday, hitting $73.95. The company had a trading volume of 1,917,592 shares, compared to its average volume of 2,732,078. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market capitalization of $22.67 billion, a PE ratio of 24.65, a P/E/G ratio of 5.48 and a beta of 0.26. The firm's 50-day simple moving average is $80.95 and its 200-day simple moving average is $77.67.
Zoom Video Communications Profile
(
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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