Schroder Investment Management Group Raises Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Schroder Investment Management Group raised its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 504.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,374 shares of the company's stock after purchasing an additional 106,318 shares during the period. Schroder Investment Management Group's holdings in Zoom Video Communications were worth $10,538,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ZM. Norges Bank bought a new stake in Zoom Video Communications in the fourth quarter valued at approximately $751,908,000. Raymond James Financial Inc. bought a new stake in Zoom Video Communications during the 4th quarter valued at $99,471,000. Contrarius Group Holdings Ltd purchased a new stake in Zoom Video Communications during the 4th quarter valued at $72,854,000. Arrowstreet Capital Limited Partnership grew its holdings in Zoom Video Communications by 357.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 998,744 shares of the company's stock worth $81,507,000 after acquiring an additional 780,446 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Zoom Video Communications by 126.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company's stock valued at $102,119,000 after acquiring an additional 699,625 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ZM shares. Benchmark reiterated a "buy" rating and set a $97.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Citigroup cut their price objective on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 18th. Rosenblatt Securities restated a "buy" rating and set a $95.00 target price on shares of Zoom Video Communications in a report on Wednesday, March 19th. UBS Group dropped their price target on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $87.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Zoom Video Communications currently has a consensus rating of "Hold" and an average price target of $89.33.

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Zoom Video Communications Price Performance

ZM stock traded up $0.30 during trading on Monday, hitting $68.05. 4,439,671 shares of the stock traded hands, compared to its average volume of 3,102,656. The stock has a market cap of $20.77 billion, a price-to-earnings ratio of 22.68, 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. The firm's 50 day moving average is $79.13 and its two-hundred day moving average is $78.51.

Insider Activity

In other news, insider Velchamy Sankarlingam sold 10,817 shares of the firm's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $851,189.73. Following the sale, the insider now owns 117,760 shares of the company's stock, valued at $9,266,534.40. This trade represents a 8.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the transaction, the director now directly owns 169,452 shares of the company's stock, valued at $13,193,532.72. The trade was a 1.44 % decrease in their ownership of the stock. 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 over the last 90 days. 10.78% of the stock is currently owned by insiders.

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.