Victory Capital Management Inc. Increases Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Victory Capital Management Inc. increased its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 640,219 shares of the company's stock after acquiring an additional 20,735 shares during the quarter. Victory Capital Management Inc. owned about 0.21% of Zoom Video Communications worth $52,248,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Adero Partners LLC boosted its stake in Zoom Video Communications by 2.4% in the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company's stock worth $450,000 after purchasing an additional 129 shares during the period. Itau Unibanco Holding S.A. boosted its position in shares of Zoom Video Communications by 1.9% during the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company's stock worth $497,000 after acquiring an additional 131 shares during the last quarter. MML Investors Services LLC grew its stake in Zoom Video Communications by 1.4% during the third quarter. MML Investors Services LLC now owns 9,395 shares of the company's stock valued at $655,000 after acquiring an additional 132 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in Zoom Video Communications by 1.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company's stock valued at $556,000 after acquiring an additional 145 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company's stock valued at $322,000 after acquiring an additional 154 shares during the last quarter. Institutional investors own 66.54% of the company's stock.

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Analysts Set New Price Targets

ZM has been the topic of several research reports. UBS Group reduced their target price on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Mizuho increased their price objective on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an "outperform" rating in a research report on Tuesday, November 26th. Jefferies Financial Group upgraded 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. Barclays dropped their price target on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Finally, Benchmark restated a "buy" rating and set a $97.00 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 assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $90.05.

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 33,751 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total transaction of $2,655,866.19. Following the completion of the sale, the chief executive officer now directly owns 34,703 shares in the company, valued at approximately $2,730,779.07. The trade was a 49.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Velchamy Sankarlingam sold 10,817 shares of the firm's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $851,189.73. Following the transaction, the insider now directly owns 117,760 shares of the company's stock, valued at approximately $9,266,534.40. This trade represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 369,271 shares of company stock worth $29,496,892. 10.78% of the stock is currently owned by company insiders.

Zoom Video Communications Price Performance

NASDAQ ZM traded down $0.32 during trading on Tuesday, reaching $73.15. 2,772,858 shares of the company's stock traded hands, compared to its average volume of 2,764,626. The firm has a market cap of $22.42 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. The company's 50 day simple moving average is $81.12 and its two-hundred day simple moving average is $77.65. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80.

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.