Charles Schwab Investment Management Inc. Raises Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Charles Schwab Investment Management Inc. boosted its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,367,055 shares of the company's stock after purchasing an additional 69,612 shares during the period. Charles Schwab Investment Management Inc. owned about 0.45% of Zoom Video Communications worth $111,565,000 as of its most recent SEC filing.

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

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Insider Activity at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,412 shares of the company's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $111,110.28. Following the transaction, the chief accounting officer now directly owns 5,404 shares of the company's stock, valued at $425,240.76. This represents a 20.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Aparna Bawa sold 9,317 shares of Zoom Video Communications 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 sale, the chief operating officer now directly owns 14,053 shares of the company's stock, valued at approximately $1,105,830.57. This represents a 39.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 369,271 shares of company stock valued at $29,496,892 in the last three months. 10.78% of the stock is owned by insiders.

Zoom Video Communications Price Performance

NASDAQ ZM traded up $0.91 during trading on Wednesday, hitting $74.06. The company's stock had a trading volume of 1,185,736 shares, compared to its average volume of 2,730,429. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The company has a market cap of $22.70 billion, a PE ratio of 24.67, a P/E/G ratio of 5.48 and a beta of 0.26. The business's 50 day simple moving average is $80.95 and its 200-day simple moving average is $77.67.

Analyst Ratings Changes

A number of brokerages recently issued reports on ZM. Evercore ISI upgraded Zoom Video Communications from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. Barclays lowered their target price on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Hsbc Global Res raised Zoom Video Communications to a "strong-buy" rating in a research report on Tuesday, November 26th. Wells Fargo & Company upgraded Zoom Video Communications from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Finally, JMP Securities reiterated a "market perform" rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. 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 MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $90.05.

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.