Treasurer of the State of North Carolina Purchases 9,667 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Treasurer of the State of North Carolina raised its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 152,340 shares of the company's stock after buying an additional 9,667 shares during the period. Treasurer of the State of North Carolina's holdings in Zoom Video Communications were worth $12,432,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ZM. MML Investors Services LLC increased its stake in shares of Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company's stock worth $655,000 after purchasing an additional 132 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Zoom Video Communications in the 3rd quarter worth $201,000. Nomura Asset Management Co. Ltd. increased its stake in Zoom Video Communications by 9.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 72,017 shares of the company's stock worth $5,022,000 after buying an additional 5,955 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Zoom Video Communications by 0.9% during the third quarter. Public Employees Retirement System of Ohio now owns 96,915 shares of the company's stock valued at $6,759,000 after acquiring an additional 817 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Zoom Video Communications by 4.2% in the third quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company's stock valued at $320,177,000 after acquiring an additional 184,518 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction on Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the transaction, the director now directly owns 169,452 shares in the company, valued at approximately $13,193,532.72. This trade represents a 1.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 83,332 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 242,897 shares of company stock worth $18,941,111. 10.78% of the stock is currently owned by company insiders.

Zoom Video Communications Trading Up 0.4 %

Shares of NASDAQ ZM traded up $0.29 during trading hours on Friday, reaching $71.49. The stock had a trading volume of 1,434,603 shares, compared to its average volume of 3,087,389. The business's fifty day moving average price is $75.59 and its two-hundred day moving average price is $78.43. The firm has a market cap of $21.82 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ZM shares. UBS Group decreased their target price on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Jefferies Financial Group raised shares of Zoom Video Communications from a "hold" rating to a "buy" rating and boosted their target price for the stock from $85.00 to $100.00 in a report on Thursday, December 19th. Scotiabank dropped their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating for the company in a research report on Monday, March 17th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $87.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $95.00 price objective on shares of Zoom Video Communications in a report on Wednesday, March 19th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $86.62.

About Zoom Video Communications

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.