Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by Sterling Capital Management LLC

Sterling Capital Management LLC raised its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 55.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 15,630 shares of the company's stock after purchasing an additional 5,593 shares during the period. Sterling Capital Management LLC's holdings in Zoom Video Communications were worth $1,276,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Merit Financial Group LLC purchased a new position in shares of Zoom Video Communications during the 4th quarter valued at $1,072,000. Nordea Investment Management AB grew its position in shares of Zoom Video Communications by 202.8% in the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company's stock worth $64,054,000 after buying an additional 521,778 shares during the last quarter. Retirement Systems of Alabama raised its holdings in Zoom Video Communications by 48.1% in the 3rd quarter. Retirement Systems of Alabama now owns 903,797 shares of the company's stock worth $63,031,000 after purchasing an additional 293,375 shares in the last quarter. Swedbank AB raised its stake in Zoom Video Communications by 96.3% in the fourth quarter. Swedbank AB now owns 82,247 shares of the company's stock worth $6,712,000 after buying an additional 40,351 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in shares of Zoom Video Communications by 8.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 93,872 shares of the company's stock valued at $7,868,000 after purchasing an additional 7,518 shares during the period. 66.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on ZM shares. Needham & Company LLC reissued a "hold" rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Stifel Nicolaus reduced their price target on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. Scotiabank cut their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating on the stock in a research report on Monday, March 17th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $87.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Barclays reduced their price target on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Fifteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Zoom Video Communications has an average rating of "Hold" and an average price target of $86.62.

Zoom Video Communications Stock Up 0.4 %

Shares of NASDAQ:ZM traded up $0.29 during midday trading on Friday, reaching $71.49. The company's stock had a trading volume of 1,434,603 shares, compared to its average volume of 3,082,843. The stock has a fifty day moving average of $75.34 and a 200 day moving average of $78.45. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The firm has a market capitalization of $21.82 billion, a PE ratio of 23.83, a P/E/G ratio of 5.48 and a beta of 0.67.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 11,839 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total transaction of $851,342.49. Following the completion of the transaction, the insider now owns 125,529 shares of the company's stock, valued at approximately $9,026,790.39. This trade represents a 8.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 16,099 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total value of $1,168,626.41. Following the completion of the sale, the chief operating officer now owns 1,978 shares in the company, valued at $143,583.02. This represents a 89.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 242,897 shares of company stock valued at $18,941,111. Corporate 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.