Toronto Dominion Bank Acquires 7,768 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Toronto Dominion Bank lifted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 32.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,965 shares of the company's stock after buying an additional 7,768 shares during the period. Toronto Dominion Bank's holdings in Zoom Video Communications were worth $2,229,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in shares of Zoom Video Communications by 4.2% in the third quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company's stock worth $320,177,000 after buying an additional 184,518 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Zoom Video Communications by 0.9% in the third quarter. Public Employees Retirement System of Ohio now owns 96,915 shares of the company's stock valued at $6,759,000 after acquiring an additional 817 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Zoom Video Communications by 9.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 72,017 shares of the company's stock valued at $5,022,000 after acquiring an additional 5,955 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Zoom Video Communications during the third quarter worth about $201,000. Finally, MML Investors Services LLC grew its stake in shares of Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company's stock worth $655,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 66.54% of the company's stock.

Zoom Video Communications Stock Up 0.0 %

Shares of NASDAQ ZM traded up $0.01 during midday trading on Monday, hitting $83.80. The stock had a trading volume of 2,645,485 shares, compared to its average volume of 3,335,913. The company has a market cap of $25.68 billion, a P/E ratio of 27.93, a PEG ratio of 5.29 and a beta of -0.03. The business's 50 day moving average is $78.40 and its 200-day moving average is $67.84. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Mizuho upped their price target on Zoom Video Communications from $90.00 to $105.00 and gave the company an "outperform" rating in a research report on Tuesday, November 26th. JMP Securities reaffirmed a "market perform" rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Benchmark boosted their price objective on shares of Zoom Video Communications from $85.00 to $97.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Hsbc Global Res upgraded shares of Zoom Video Communications to a "strong-buy" rating in a report on Tuesday, November 26th. Finally, Sanford C. Bernstein lifted their target price on shares of 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. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Zoom Video Communications presently has an average rating of "Hold" and an average price target of $85.19.

Insider Buying and Selling at Zoom Video Communications

In other news, COO Aparna Bawa sold 10,871 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $68.12, for a total transaction of $740,532.52. Following the transaction, the chief operating officer now directly owns 12,498 shares of the company's stock, valued at $851,363.76. This represents a 46.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $66.47, for a total value of $591,649.47. The disclosure for this sale can be found here. In the last three months, insiders have sold 437,414 shares of company stock worth $32,958,564. Insiders own 10.78% of the company's stock.

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.