SBI Securities Co. Ltd. Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

SBI Securities Co. Ltd. bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 25,001 shares of the company's stock, valued at approximately $2,040,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ZM. Jones Financial Companies Lllp increased its position in Zoom Video Communications by 36.1% during the 4th quarter. Jones Financial Companies Lllp now owns 8,704 shares of the company's stock worth $710,000 after purchasing an additional 2,307 shares in the last quarter. Metis Global Partners LLC increased its holdings in Zoom Video Communications by 6.3% during the 4th quarter. Metis Global Partners LLC now owns 4,300 shares of the company's stock worth $351,000 after purchasing an additional 254 shares during the last quarter. US Bancorp DE increased its holdings in Zoom Video Communications by 17.2% in the fourth quarter. US Bancorp DE now owns 3,495 shares of the company's stock valued at $285,000 after buying an additional 512 shares during the last quarter. Wiser Advisor Group LLC lifted its position in shares of Zoom Video Communications by 13.0% in the 4th quarter. Wiser Advisor Group LLC now owns 4,995 shares of the company's stock worth $408,000 after buying an additional 575 shares during the last quarter. Finally, Illumine Investment Management LLC bought a new stake in Zoom Video Communications in the fourth quarter valued at $1,995,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZM has been the topic of several recent research reports. Bank of America lifted their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Piper Sandler boosted their price objective on Zoom Video Communications from $68.00 to $89.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Benchmark restated a "buy" rating and set a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Barclays decreased their price objective on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group upgraded shares of Zoom Video Communications from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. 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. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $90.05.

Zoom Video Communications Price Performance

NASDAQ:ZM traded up $0.67 during trading hours on Wednesday, reaching $75.60. The company's stock had a trading volume of 2,614,854 shares, compared to its average volume of 2,734,042. The company has a market cap of $23.17 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The business's 50-day moving average is $81.66 and its 200-day moving average is $77.26.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 118,036 shares of the company's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $79.03, for a total transaction of $9,328,385.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the chief operating officer now owns 14,053 shares in the company, valued at $1,105,830.57. The trade was a 39.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 298,909 shares of company stock valued at $24,272,632 over the last quarter. Insiders own 10.78% of the company's stock.

Zoom Video Communications 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.