Royal London Asset Management Ltd. Raises Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Royal London Asset Management Ltd. boosted its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 11.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107,546 shares of the company's stock after acquiring an additional 10,795 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Zoom Video Communications were worth $8,777,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. boosted its position in Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after buying an additional 190 shares during the period. Avior Wealth Management LLC grew its position in Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after purchasing an additional 258 shares during the period. Truvestments Capital LLC bought a new stake in Zoom Video Communications in the third quarter valued at approximately $37,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of Zoom Video Communications during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 66.54% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Citigroup lowered their price target on shares of Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating for the company in a report on Tuesday, February 18th. Wells Fargo & Company upgraded 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. Rosenblatt Securities reissued a "buy" rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Needham & Company LLC reiterated a "hold" rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $87.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $89.33.

Insider Transactions at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,412 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $111,110.28. Following the transaction, the chief accounting officer now owns 5,404 shares of the company's stock, valued at $425,240.76. This trade represents a 20.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 33,751 shares of the business's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total value of $2,655,866.19. Following the transaction, the chief executive officer now owns 34,703 shares of the company's stock, valued at approximately $2,730,779.07. This trade represents a 49.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 371,746 shares of company stock worth $29,689,595 in the last 90 days. 10.78% of the stock is currently owned by insiders.

Zoom Video Communications Trading Down 1.3 %

NASDAQ ZM traded down $1.00 during trading hours on Thursday, hitting $76.78. 1,722,691 shares of the company's stock traded hands, compared to its average volume of 3,029,608. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The firm has a market capitalization of $23.44 billion, a P/E ratio of 25.59, a P/E/G ratio of 5.48 and a beta of 0.26. The business's fifty day moving average price is $79.90 and its two-hundred day moving average price is $78.10.

Zoom Video Communications Company 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.