Teacher Retirement System of Texas Buys 32,749 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Teacher Retirement System of Texas boosted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 590,273 shares of the company's stock after acquiring an additional 32,749 shares during the quarter. Teacher Retirement System of Texas owned 0.19% of Zoom Video Communications worth $48,172,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. lifted its position in shares of Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after acquiring an additional 190 shares in the last quarter. Avior Wealth Management LLC raised its position in shares of Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after buying an additional 265 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after purchasing an additional 258 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications in the 3rd quarter valued at approximately $37,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Zoom Video Communications in the 4th quarter worth approximately $39,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of brokerages have recently weighed in on ZM. Rosenblatt Securities reaffirmed a "buy" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Stifel Nicolaus dropped their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a research note on Tuesday, February 25th. Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Evercore ISI raised shares of Zoom Video Communications from an "in-line" rating to an "outperform" rating and upped their target price for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. Finally, Jefferies Financial Group raised Zoom Video Communications from a "hold" rating to a "buy" rating and upped their price objective for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $89.33.

Insider Buying and Selling

In other news, COO Aparna Bawa sold 9,317 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the transaction, the chief operating officer now owns 14,053 shares of the company's stock, valued at $1,105,830.57. This represents a 39.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 10,817 shares of the business's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $851,189.73. Following the transaction, the insider now owns 117,760 shares of the company's stock, valued at approximately $9,266,534.40. This represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 369,271 shares of company stock worth $29,496,892 in the last quarter. 10.78% of the stock is owned by corporate insiders.

Zoom Video Communications Stock Down 0.1 %

Zoom Video Communications stock traded down $0.07 during trading hours on Tuesday, hitting $78.13. The stock had a trading volume of 1,586,158 shares, compared to its average volume of 3,038,827. The company has a market cap of $23.85 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. The company has a 50-day moving average of $79.97 and a two-hundred day moving average of $78.03. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Zoom Video Communications Company 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.