APG Asset Management N.V. Boosts Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

APG Asset Management N.V. boosted its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 1,127.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 157,083 shares of the company's stock after purchasing an additional 144,288 shares during the period. APG Asset Management N.V. owned about 0.05% of Zoom Video Communications worth $12,380,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Merit Financial Group LLC acquired a new stake in Zoom Video Communications in the 4th quarter worth about $1,072,000. Nordea Investment Management AB boosted its stake 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 buying an additional 521,778 shares during the period. Tri Ri Asset Management Corp acquired a new stake in Zoom Video Communications during the third quarter worth approximately $2,676,000. Retirement Systems of Alabama raised its holdings in Zoom Video Communications by 48.1% in the 3rd quarter. Retirement Systems of Alabama now owns 903,797 shares of the company's stock valued at $63,031,000 after acquiring an additional 293,375 shares in the last quarter. Finally, Swedbank AB grew its holdings in shares of Zoom Video Communications by 96.3% during the 4th quarter. Swedbank AB now owns 82,247 shares of the company's stock worth $6,712,000 after purchasing an additional 40,351 shares in the last quarter. Institutional investors own 66.54% of the company's stock.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM traded up $0.64 during trading on Monday, reaching $71.98. 1,660,459 shares of the stock were exchanged, compared to its average volume of 3,098,643. The stock has a fifty day moving average of $76.77 and a two-hundred day moving average of $78.49. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The firm has a market cap of $21.97 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67.

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Insiders Place Their Bets

In other Zoom Video Communications 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 value of $2,008,250.00. Following the completion of the transaction, the director now owns 1,514 shares in the company, valued at $121,619.62. This represents a 94.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,413 shares of company stock worth $16,009,889. Insiders own 10.78% of the company's stock.

Wall Street Analyst Weigh In

ZM has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Scotiabank reduced their target price on Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating on the stock in a report on Monday, March 17th. Wells Fargo & Company raised Zoom Video Communications from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $70.00 to $85.00 in a report on Tuesday, January 7th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $87.00 price target on shares of Zoom Video Communications in a research note 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $89.33.

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.