Trivest Advisors Ltd Buys New Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Trivest Advisors Ltd bought a new position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 168,000 shares of the company's stock, valued at approximately $13,710,000. Trivest Advisors Ltd owned approximately 0.05% of Zoom Video Communications as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its holdings in Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company's stock valued at $867,906,000 after acquiring an additional 2,395,396 shares during the last quarter. State Street Corp boosted its stake in shares of Zoom Video Communications by 2.3% during the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company's stock worth $425,853,000 after purchasing an additional 134,559 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Zoom Video Communications by 4.4% during the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company's stock worth $382,188,000 after purchasing an additional 233,241 shares during the period. Geode Capital Management LLC boosted its position in Zoom Video Communications by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company's stock valued at $320,177,000 after buying an additional 184,518 shares during the period. Finally, Two Sigma Advisers LP boosted its position in Zoom Video Communications by 9.8% in the 3rd quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company's stock valued at $101,032,000 after buying an additional 128,800 shares during the period. Institutional investors own 66.54% of the company's stock.

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Wall Street Analyst Weigh In

ZM has been the subject of several research reports. Benchmark reaffirmed a "buy" rating and issued a $97.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Mizuho upped their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 26th. Piper Sandler upped their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Evercore ISI upgraded shares of Zoom Video Communications from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $70.00 to $115.00 in a research note on Tuesday, November 26th. Finally, Hsbc Global Res upgraded shares of Zoom Video Communications to a "strong-buy" rating in a research note on Tuesday, November 26th. Fifteen 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 data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $89.33.

Zoom Video Communications Trading Down 0.1 %

Shares of NASDAQ ZM traded down $0.06 on Friday, reaching $75.97. 6,268,809 shares of the company traded hands, compared to its average volume of 3,043,251. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The company has a 50 day moving average of $79.98 and a 200 day moving average of $77.95. The stock has a market capitalization of $23.19 billion, a PE ratio of 25.32, a P/E/G ratio of 5.48 and a beta of 0.26.

Insider Buying and Selling

In related news, CEO Eric S. Yuan sold 75,531 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan Chadwick sold 25,000 shares of the firm's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total value of $2,008,250.00. Following the transaction, the director now owns 1,514 shares in the company, valued at $121,619.62. This trade represents a 94.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 369,271 shares of company stock valued at $29,496,892. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Company 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.