Vestmark Advisory Solutions Inc. Makes New Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Vestmark Advisory Solutions Inc. acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 24,493 shares of the company's stock, valued at approximately $1,999,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ZM. FMR LLC boosted 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 buying an additional 2,395,396 shares during the period. Raymond James Financial Inc. acquired a new stake in Zoom Video Communications during the fourth quarter worth approximately $99,471,000. Eagle Asset Management Inc. bought a new stake in shares of Zoom Video Communications during the third quarter worth approximately $62,038,000. Assenagon Asset Management S.A. grew its position in shares of Zoom Video Communications by 126.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company's stock valued at $102,119,000 after purchasing an additional 699,625 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Zoom Video Communications by 202.8% in the fourth quarter. Nordea Investment Management AB now owns 779,051 shares of the company's stock valued at $64,054,000 after purchasing an additional 521,778 shares during the last quarter. Institutional investors own 66.54% of the company's stock.

Zoom Video Communications Trading Down 0.4 %

Zoom Video Communications stock traded down $0.32 during mid-day trading on Tuesday, reaching $73.15. The company had a trading volume of 2,772,876 shares, compared to its average volume of 2,765,306. The business has a fifty day simple moving average of $81.12 and a 200 day simple moving average of $77.65. The company has a market cap of $22.42 billion, a P/E ratio of 24.38, a P/E/G ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

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Analyst Ratings Changes

Several analysts recently issued reports on ZM shares. Sanford C. Bernstein boosted their price target on Zoom Video Communications from $78.00 to $89.00 and gave the company a "market perform" rating in a research note on Tuesday, November 26th. Citigroup decreased their price target on shares of Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 18th. Needham & Company LLC reiterated a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Barclays decreased their target price on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus dropped their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a research report on Tuesday, February 25th. Fifteen equities research 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's stock. Based on data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of "Hold" and an average price target of $90.05.

Insider Buying and Selling

In other news, insider Velchamy Sankarlingam sold 10,817 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 117,760 shares in the company, valued at approximately $9,266,534.40. The trade was a 8.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Shane Crehan sold 1,412 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $111,110.28. Following the sale, the chief accounting officer now owns 5,404 shares of the company's stock, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 369,271 shares of company stock worth $29,496,892 in the last 90 days. Insiders own 10.78% of the company's stock.

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.