Van ECK Associates Corp Has $6.42 Million Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Van ECK Associates Corp boosted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 87.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,679 shares of the company's stock after purchasing an additional 36,695 shares during the quarter. Van ECK Associates Corp's holdings in Zoom Video Communications were worth $6,421,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ZM. Creative Planning raised its stake in shares of Zoom Video Communications by 18.5% in the 3rd quarter. Creative Planning now owns 34,522 shares of the company's stock valued at $2,408,000 after purchasing an additional 5,396 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Zoom Video Communications by 28.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 24,306 shares of the company's stock valued at $1,695,000 after buying an additional 5,343 shares during the last quarter. Claro Advisors LLC acquired a new stake in Zoom Video Communications during the third quarter valued at approximately $276,000. Blue Trust Inc. raised its stake in Zoom Video Communications by 117.7% during the third quarter. Blue Trust Inc. now owns 5,105 shares of the company's stock valued at $356,000 after buying an additional 2,760 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in Zoom Video Communications by 0.7% during the 3rd quarter. Raymond James & Associates now owns 53,089 shares of the company's stock worth $3,702,000 after buying an additional 383 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Zoom Video Communications

In other news, Director Jonathan Chadwick sold 25,000 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the completion of the sale, the director now directly owns 1,514 shares of the company's stock, valued at $121,619.62. This represents a 94.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Eric S. Yuan sold 118,036 shares of Zoom Video Communications stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $79.03, for a total value of $9,328,385.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 382,242 shares of company stock valued at $31,230,938. Corporate insiders own 10.78% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ZM. The Goldman Sachs Group upped their price target on Zoom Video Communications from $72.00 to $86.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Wells Fargo & Company raised shares of Zoom Video Communications from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $70.00 to $85.00 in a report on Tuesday, January 7th. Mizuho lifted their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an "outperform" rating in a report on Tuesday, November 26th. Evercore ISI raised shares of Zoom Video Communications from an "in-line" rating to an "outperform" rating and boosted their price objective for the company from $70.00 to $115.00 in a research report on Tuesday, November 26th. Finally, Sanford C. Bernstein raised their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a "market perform" rating in a report on Tuesday, November 26th. Sixteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $89.48.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM traded down $0.95 during mid-day trading on Friday, reaching $82.50. 4,120,593 shares of the company traded hands, compared to its average volume of 2,294,444. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm has a market cap of $25.29 billion and a PE ratio of 27.50. The stock has a fifty day simple moving average of $83.21 and a 200-day simple moving average of $75.90.

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.