State Street Corp Has $425.85 Million Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

State Street Corp lifted its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,106,293 shares of the company's stock after purchasing an additional 134,559 shares during the quarter. State Street Corp owned 1.98% of Zoom Video Communications worth $425,853,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Comerica Bank grew its position in shares of Zoom Video Communications by 15.6% in the 1st quarter. Comerica Bank now owns 4,966 shares of the company's stock valued at $325,000 after purchasing an additional 670 shares during the period. Cetera Advisors LLC increased its position in shares of Zoom Video Communications by 52.1% during the first quarter. Cetera Advisors LLC now owns 6,307 shares of the company's stock worth $412,000 after acquiring an additional 2,160 shares in the last quarter. CWM LLC lifted its position in Zoom Video Communications by 6.0% in the 2nd quarter. CWM LLC now owns 8,304 shares of the company's stock valued at $492,000 after acquiring an additional 471 shares in the last quarter. Diversified Trust Co boosted its stake in Zoom Video Communications by 21.1% in the 2nd quarter. Diversified Trust Co now owns 44,107 shares of the company's stock worth $2,611,000 after purchasing an additional 7,685 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Zoom Video Communications by 2.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,311 shares of the company's stock worth $669,000 after purchasing an additional 273 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Insider Buying and Selling

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,333 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total value of $6,958,305.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Velchamy Sankarlingam sold 10,338 shares of Zoom Video Communications stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $69.51, for a total transaction of $718,594.38. Following the transaction, the insider now owns 104,414 shares in the company, valued at approximately $7,257,817.14. This trade represents a 9.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 432,245 shares of company stock worth $32,519,509 in the last three months. 10.78% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Sanford C. Bernstein lifted their price objective on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a "market perform" rating in a report on Tuesday, November 26th. Bank of America boosted their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Scotiabank upgraded Zoom Video Communications to a "hold" rating in a report on Tuesday, November 19th. Wells Fargo & Company upped their target price on Zoom Video Communications from $60.00 to $70.00 and gave the stock an "underweight" rating in a report on Tuesday, November 26th. Finally, Morgan Stanley increased their price target on Zoom Video Communications from $68.00 to $86.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $85.19.

Zoom Video Communications Stock Down 2.0 %

Shares of ZM traded down $1.75 during midday trading on Tuesday, hitting $83.83. The company's stock had a trading volume of 3,726,403 shares, compared to its average volume of 3,344,681. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The stock has a market capitalization of $25.69 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 5.44 and a beta of -0.03. The company's fifty day simple moving average is $77.02 and its two-hundred day simple moving average is $67.19.

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.