Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. raised its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 710,716 shares of the company's stock after purchasing an additional 23,517 shares during the quarter. Federated Hermes Inc. owned about 0.23% of Zoom Video Communications worth $58,006,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Global X Japan Co. Ltd. increased its holdings in Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after buying an additional 190 shares during the period. Avior Wealth Management LLC boosted its holdings in shares of Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after acquiring an additional 258 shares during the period. Geneos Wealth Management Inc. purchased a new position in shares of Zoom Video Communications during the fourth quarter worth $39,000. Finally, MRP Capital Investments LLC lifted its position in Zoom Video Communications by 500.0% during the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock valued at $49,000 after purchasing an additional 500 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the transaction, the director now owns 169,452 shares of the company's stock, valued at $13,193,532.72. This represents a 1.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total value of $2,008,250.00. Following the sale, the director now directly owns 1,514 shares of the company's stock, valued at $121,619.62. The trade was a 94.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 316,449 shares of company stock valued at $25,338,274. Insiders own 10.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ZM. Cantor Fitzgerald reiterated a "neutral" rating and set a $87.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Citigroup reduced their price target on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating for the company in a research report on Tuesday, February 18th. Benchmark restated a "buy" rating and issued a $97.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Rosenblatt Securities reaffirmed a "buy" rating and set a $95.00 target price on shares of Zoom Video Communications in a report on Wednesday, March 19th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Fifteen investment 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 company's stock. According to data from MarketBeat, Zoom Video Communications currently has a consensus rating of "Hold" and a consensus target price of $89.33.

Zoom Video Communications Stock Up 2.5 %

Shares of Zoom Video Communications stock traded up $1.73 on Friday, hitting $71.34. 1,929,318 shares of the company were exchanged, compared to its average volume of 3,102,858. The company has a 50-day moving average price of $76.77 and a 200 day moving average price of $78.43. The stock has a market capitalization of $21.78 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-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.