Russell Investments Group Ltd. lifted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 17.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 421,517 shares of the company's stock after acquiring an additional 63,378 shares during the period. Russell Investments Group Ltd. owned 0.14% of Zoom Video Communications worth $34,705,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. raised its position in Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after purchasing an additional 190 shares during the period. Avior Wealth Management LLC raised its holdings in shares of Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after buying an additional 265 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after acquiring an additional 258 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in Zoom Video Communications during the 4th quarter valued at $39,000. Finally, MRP Capital Investments LLC boosted its holdings in Zoom Video Communications by 500.0% during the 4th quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock valued at $49,000 after acquiring an additional 500 shares during the period. 66.54% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the company. Wells Fargo & Company upgraded Zoom Video Communications from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Scotiabank decreased their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating for the company in a report on Monday, March 17th. Morgan Stanley boosted their price objective on shares of 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Benchmark reiterated a "buy" rating and issued a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $89.33.
Read Our Latest Analysis on ZM
Zoom Video Communications Trading Up 2.5 %
Shares of ZM stock traded up $1.73 during trading hours on Friday, hitting $71.34. The company's stock had a trading volume of 1,929,318 shares, compared to its average volume of 3,104,395. The stock has a market cap of $21.78 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The company has a 50 day moving average of $76.77 and a 200 day moving average of $78.49.
Insiders Place Their Bets
In other news, COO Aparna Bawa sold 12,075 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $79.15, for a total transaction of $955,736.25. Following the sale, the chief operating officer now directly owns 1,978 shares of the company's stock, valued at $156,558.70. This represents a 85.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric S. Yuan sold 118,036 shares of the company'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. In the last three months, insiders have sold 316,449 shares of company stock valued at $25,338,274. Company insiders own 10.78% of the company's stock.
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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