Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Purchased by Royal London Asset Management Ltd.

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

Several other institutional investors and hedge funds have also modified their holdings of the company. Trivest Advisors Ltd acquired a new stake in Zoom Video Communications in the 4th quarter worth about $13,710,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Zoom Video Communications during the 4th quarter worth about $366,000. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Zoom Video Communications by 22.6% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 20,644 shares of the company's stock worth $1,705,000 after acquiring an additional 3,801 shares during the last quarter. Xponance Inc. grew its holdings in Zoom Video Communications by 18.8% in the fourth quarter. Xponance Inc. now owns 27,577 shares of the company's stock valued at $2,251,000 after purchasing an additional 4,372 shares during the period. Finally, Generali Asset Management SPA SGR acquired a new position in Zoom Video Communications during the fourth quarter worth approximately $3,060,000. Hedge funds and other institutional investors own 66.54% of the company's stock.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 9,317 shares of the firm's stock in a transaction dated 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 owns 14,053 shares of the company's stock, valued at approximately $1,105,830.57. This trade represents a 39.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Shane Crehan sold 1,412 shares of the company's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $111,110.28. Following the completion of the sale, the chief accounting officer now directly owns 5,404 shares of the company's stock, valued at approximately $425,240.76. This represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 369,271 shares of company stock worth $29,496,892. Company insiders own 10.78% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts have issued reports on ZM shares. Morgan Stanley boosted their price target on Zoom Video Communications from $86.00 to $96.00 and gave the company an "equal weight" rating in a research report on Wednesday, December 18th. Bank of America boosted their target price on Zoom Video Communications from $75.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Benchmark restated a "buy" rating and issued a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Sanford C. Bernstein lifted their price target on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a "market perform" rating in a research report on Tuesday, November 26th. Finally, UBS Group dropped their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. 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. Based on data from MarketBeat.com, Zoom Video Communications has a consensus rating of "Hold" and a consensus target price of $89.33.

Zoom Video Communications Trading Down 0.2 %

Zoom Video Communications stock traded down $0.18 during midday trading on Tuesday, reaching $78.02. 822,379 shares of the stock traded hands, compared to its average volume of 3,038,827. The firm has a fifty day moving average price of $79.97 and a two-hundred day moving average price of $78.03. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm has a market cap of $23.81 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 5.48 and a beta of 0.26.

About Zoom Video Communications

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.