Elo Mutual Pension Insurance Co Buys 5,026 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Elo Mutual Pension Insurance Co lifted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 22.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,271 shares of the company's stock after acquiring an additional 5,026 shares during the quarter. Elo Mutual Pension Insurance Co's holdings in Zoom Video Communications were worth $2,226,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. HighTower Advisors LLC raised its stake in shares of Zoom Video Communications by 449.4% in the third quarter. HighTower Advisors LLC now owns 63,618 shares of the company's stock worth $4,429,000 after acquiring an additional 52,039 shares during the last quarter. Merit Financial Group LLC bought a new position in Zoom Video Communications in the 4th quarter worth approximately $1,072,000. State Street Corp lifted its holdings in Zoom Video Communications by 2.3% during the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company's stock worth $425,853,000 after buying an additional 134,559 shares in the last quarter. Nordea Investment Management AB boosted its position in Zoom Video Communications by 202.8% in the 4th 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 last quarter. Finally, Tri Ri Asset Management Corp acquired a new stake in shares of Zoom Video Communications in the 3rd quarter valued at $2,676,000. 66.54% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 10,817 shares of Zoom Video Communications stock in a transaction that occurred 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 completion of the transaction, the insider now directly 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 legal filing with the SEC, which can be accessed through this link. Also, CAO Shane Crehan sold 1,412 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the completion of the sale, the chief accounting officer now owns 5,404 shares in the company, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 371,746 shares of company stock worth $29,689,595 in the last 90 days. Corporate insiders own 10.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ZM. Royal Bank of Canada reaffirmed an "outperform" rating and set a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday, March 19th. UBS Group cut their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. Rosenblatt Securities reiterated a "buy" rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Benchmark restated a "buy" rating and issued a $97.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Zoom Video Communications in a 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 stock. According to data from MarketBeat, Zoom Video Communications presently has a consensus rating of "Hold" and an average price target of $89.33.

Zoom Video Communications Trading Down 5.7 %

Shares of NASDAQ ZM traded down $4.30 during mid-day trading on Thursday, hitting $70.74. The company had a trading volume of 515,750 shares, compared to its average volume of 3,077,126. The firm has a 50-day simple moving average of $79.52 and a two-hundred day simple moving average of $78.38. The company has a market capitalization of $21.59 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

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.