Swiss National Bank Sells 39,800 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Swiss National Bank lessened its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 703,500 shares of the company's stock after selling 39,800 shares during the quarter. Swiss National Bank owned about 0.23% of Zoom Video Communications worth $57,413,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company's stock worth $867,906,000 after purchasing an additional 2,395,396 shares during the period. Raymond James Financial Inc. bought a new position in shares of Zoom Video Communications during the 4th quarter worth about $99,471,000. Eagle Asset Management Inc. bought a new position in shares of Zoom Video Communications during the 3rd quarter worth about $62,038,000. Assenagon Asset Management S.A. increased its holdings in shares of Zoom Video Communications by 126.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company's stock worth $102,119,000 after purchasing an additional 699,625 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of Zoom Video Communications by 202.8% during the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company's stock worth $64,054,000 after purchasing an additional 521,778 shares during the period. Institutional investors own 66.54% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Jefferies Financial Group upgraded shares of Zoom Video Communications from a "hold" rating to a "buy" rating and lifted their target price for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. Stifel Nicolaus decreased their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a research report on Tuesday, February 25th. Evercore ISI upgraded shares of Zoom Video Communications from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $70.00 to $115.00 in a research report on Tuesday, November 26th. Cantor Fitzgerald reiterated a "neutral" rating and set a $87.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Scotiabank decreased their target price 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. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $89.33.

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Insider Buying and Selling

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 10,817 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $851,189.73. Following the completion of the sale, the insider now owns 117,760 shares in the company, valued at $9,266,534.40. This trade represents a 8.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 369,271 shares of company stock worth $29,496,892. 10.78% of the stock is owned by insiders.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock traded up $0.81 on Wednesday, hitting $76.26. The company had a trading volume of 1,642,702 shares, compared to its average volume of 3,019,568. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The stock has a 50-day moving average of $80.20 and a 200-day moving average of $77.80. The firm has a market capitalization of $23.28 billion, a P/E ratio of 25.42, a P/E/G ratio of 5.48 and a beta of 0.26.

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.