Zacks Investment Management Has $11.74 Million Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Zacks Investment Management grew its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 12.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 168,354 shares of the company's stock after purchasing an additional 18,708 shares during the quarter. Zacks Investment Management owned approximately 0.05% of Zoom Video Communications worth $11,741,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ZM. Baker Avenue Asset Management LP lifted its stake in Zoom Video Communications by 82.1% in the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company's stock valued at $1,994,000 after buying an additional 12,890 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Zoom Video Communications in the 2nd quarter valued at $763,000. Robeco Institutional Asset Management B.V. increased its position in shares of Zoom Video Communications by 15.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company's stock valued at $87,713,000 after buying an additional 167,618 shares in the last quarter. National Pension Service raised its stake in Zoom Video Communications by 30.1% during the 3rd quarter. National Pension Service now owns 655,227 shares of the company's stock worth $45,696,000 after buying an additional 151,728 shares during the period. Finally, Eagle Asset Management Inc. acquired a new position in Zoom Video Communications in the third quarter valued at about $62,038,000. Institutional investors and hedge funds own 66.54% of the company's stock.

Zoom Video Communications Price Performance

NASDAQ:ZM traded up $2.86 during trading hours on Friday, reaching $86.22. 3,359,174 shares of the company were exchanged, compared to its average volume of 4,480,636. The business has a 50 day moving average of $76.71 and a 200 day moving average of $67.03. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The company has a market capitalization of $26.43 billion, a P/E ratio of 28.74, a P/E/G ratio of 5.44 and a beta of -0.03.

Analyst Ratings Changes

ZM has been the topic of a number of research analyst reports. Sanford C. Bernstein raised their price objective 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. Deutsche Bank Aktiengesellschaft increased their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the stock a "hold" rating in a report on Friday, August 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Tuesday, November 26th. The Goldman Sachs Group boosted their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Zoom Video Communications currently has a consensus rating of "Hold" and a consensus target price of $85.19.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of the business's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the transaction, the chief operating officer now owns 1,978 shares of the company's stock, valued at approximately $131,121.62. The trade was a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 83,333 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total transaction of $6,958,305.50. The disclosure for this sale can be found here. Insiders have sold a total of 438,240 shares of company stock valued at $32,919,913 in the last ninety days. 10.78% of the stock is currently owned by company insiders.

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.