T. Rowe Price Investment Management Inc. Buys 1,247,717 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

T. Rowe Price Investment Management Inc. raised its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 24.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,385,523 shares of the company's stock after acquiring an additional 1,247,717 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 2.08% of Zoom Video Communications worth $521,123,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ZM. Global X Japan Co. Ltd. grew its holdings in Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after purchasing an additional 190 shares during the period. Avior Wealth Management LLC boosted its position in shares of Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after purchasing an additional 265 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after buying an additional 258 shares during the period. Geneos Wealth Management Inc. bought a new stake in shares of Zoom Video Communications in the 4th quarter valued at $39,000. Finally, MRP Capital Investments LLC increased its position in shares of Zoom Video Communications by 500.0% in the 4th quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock valued at $49,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Velchamy Sankarlingam sold 11,839 shares of Zoom Video Communications stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49. Following the sale, the insider now directly owns 125,529 shares of the company's stock, valued at $9,026,790.39. The trade was a 8.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 242,897 shares of company stock valued at $18,941,111. 10.78% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ZM has been the subject of a number of research analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Benchmark reiterated a "buy" rating and issued a $97.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Wells Fargo & Company lowered their target price on Zoom Video Communications from $85.00 to $75.00 and set an "equal weight" rating for the company in a research note on Tuesday. Mizuho cut their price target on shares of Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $87.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Zoom Video Communications presently has an average rating of "Hold" and an average price target of $85.90.

Zoom Video Communications Price Performance

NASDAQ ZM traded up $0.54 on Friday, hitting $76.03. 1,300,179 shares of the stock were exchanged, compared to its average volume of 3,052,853. The business's fifty day moving average is $74.20 and its 200 day moving average is $78.63. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The company has a market capitalization of $23.21 billion, a PE ratio of 25.34, a P/E/G ratio of 5.48 and a beta of 0.67.

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.