Mitsubishi UFJ Asset Management Co. Ltd. Acquires 19,121 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 11.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,073 shares of the company's stock after buying an additional 19,121 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.06% of Zoom Video Communications worth $15,471,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in Zoom Video Communications during the fourth quarter worth $99,471,000. Contrarius Group Holdings Ltd acquired a new position in shares of Zoom Video Communications during the 4th quarter worth about $72,854,000. Assenagon Asset Management S.A. lifted its stake in Zoom Video Communications by 126.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company's stock valued at $102,119,000 after purchasing an additional 699,625 shares during the last quarter. Nordea Investment Management AB grew its holdings in Zoom Video Communications by 202.8% during the fourth quarter. Nordea Investment Management AB now owns 779,051 shares of the company's stock worth $64,054,000 after purchasing an additional 521,778 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in Zoom Video Communications during the fourth quarter worth approximately $26,344,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 118,036 shares of the firm's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $79.03, for a total transaction of $9,328,385.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Aparna Bawa sold 9,317 shares of the company's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the completion of the transaction, the chief operating officer now directly owns 14,053 shares of the company's stock, valued at approximately $1,105,830.57. The trade was a 39.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 371,746 shares of company stock valued at $29,689,595. 10.78% of the stock is currently owned by corporate insiders.

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Zoom Video Communications Price Performance

NASDAQ:ZM traded down $1.79 during mid-day trading on Thursday, reaching $73.25. The stock had a trading volume of 2,530,153 shares, compared to its average volume of 3,084,778. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The stock has a market capitalization of $22.36 billion, a PE ratio of 24.42, a P/E/G ratio of 5.48 and a beta of 0.26. The stock has a 50-day simple moving average of $79.52 and a two-hundred day simple moving average of $78.38.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ZM shares. Stifel Nicolaus cut their price objective on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a research report on Tuesday, February 25th. Morgan Stanley raised their price target on Zoom Video Communications from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Wednesday, December 18th. Royal Bank of Canada reiterated an "outperform" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Wednesday, March 19th. Jefferies Financial Group upgraded shares of Zoom Video Communications from a "hold" rating to a "buy" rating and raised their target price for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. Finally, Scotiabank decreased their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating on the stock in a research note on Monday, March 17th. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $89.33.

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.