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Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Swedbank AB

Zoom Video Communications logo with Computer and Technology background

Swedbank AB raised its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 96.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,247 shares of the company's stock after purchasing an additional 40,351 shares during the period. Swedbank AB's holdings in Zoom Video Communications were worth $6,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its stake in shares of Zoom Video Communications by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company's stock worth $794,000 after acquiring an additional 223 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Zoom Video Communications during the second quarter worth about $526,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Zoom Video Communications by 6.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 20,037 shares of the company's stock worth $1,186,000 after acquiring an additional 1,145 shares during the last quarter. Truist Financial Corp purchased a new stake in shares of Zoom Video Communications during the second quarter worth about $296,000. Finally, Sanctuary Advisors LLC purchased a new stake in Zoom Video Communications in the second quarter valued at approximately $763,000. Hedge funds and other institutional investors own 66.54% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ZM shares. The Goldman Sachs Group increased their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Stifel Nicolaus raised their price objective on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a "hold" rating in a research note on Tuesday, November 26th. Sanford C. Bernstein raised their price objective on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 26th. Jefferies Financial Group raised shares of Zoom Video Communications from a "hold" rating to a "buy" rating and raised their price objective for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. Finally, Evercore ISI raised shares of Zoom Video Communications from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $70.00 to $115.00 in a research note on Tuesday, November 26th. Sixteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $89.10.

Check Out Our Latest Stock Report on Zoom Video Communications

Zoom Video Communications Stock Down 0.2 %

NASDAQ ZM traded down $0.19 during trading on Wednesday, hitting $85.99. The stock had a trading volume of 1,377,365 shares, compared to its average volume of 2,280,851. The company has a market capitalization of $26.36 billion and a PE ratio of 28.66. The firm has a 50 day moving average price of $83.08 and a 200 day moving average price of $73.96. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

Insider Activity

In related news, COO Aparna Bawa sold 9,317 shares of the business'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 $733,154.73. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Shane Crehan sold 1,551 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the sale, the chief accounting officer now owns 3,251 shares of the company's stock, valued at approximately $276,139.94. This represents a 32.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 298,910 shares of company stock worth $24,041,053. 10.78% of the stock is currently owned by company insiders.

Zoom Video Communications Company 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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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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