Geode Capital Management LLC Acquires 184,518 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Geode Capital Management LLC increased its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,595,435 shares of the company's stock after acquiring an additional 184,518 shares during the period. Geode Capital Management LLC owned about 1.49% of Zoom Video Communications worth $320,177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in shares of Zoom Video Communications by 96.7% during the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company's stock valued at $310,566,000 after purchasing an additional 2,579,720 shares during the last quarter. AQR Capital Management LLC boosted its position in Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company's stock valued at $337,233,000 after buying an additional 2,520,987 shares in the last quarter. FMR LLC grew its stake in shares of Zoom Video Communications by 23.8% during the third quarter. FMR LLC now owns 12,444,887 shares of the company's stock worth $867,906,000 after buying an additional 2,395,396 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company's stock worth $290,153,000 after buying an additional 1,855,679 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in shares of Zoom Video Communications during the third quarter worth $62,038,000. 66.54% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Shane Crehan sold 1,551 shares of the business's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the transaction, the chief accounting officer now directly owns 3,251 shares of the company's stock, valued at approximately $276,139.94. The trade was a 32.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kelly Steckelberg sold 8,901 shares of the firm's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $66.47, for a total transaction of $591,649.47. The disclosure for this sale can be found here. Insiders have sold a total of 437,414 shares of company stock valued at $32,958,564 in the last 90 days. 10.78% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research note on Friday, November 22nd. The Goldman Sachs Group raised their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Evercore ISI raised shares of Zoom Video Communications from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $70.00 to $115.00 in a research note on Tuesday, November 26th. JMP Securities reaffirmed a "market perform" rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Finally, Wedbush initiated coverage on Zoom Video Communications in a report on Thursday, October 17th. They set an "outperform" rating and a $85.00 target price on the stock. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $85.19.

Zoom Video Communications Trading Down 3.7 %

Zoom Video Communications stock traded down $3.26 during trading on Friday, hitting $83.79. 2,627,082 shares of the company were exchanged, compared to its average volume of 4,398,699. The company has a market capitalization of $25.68 billion, a P/E ratio of 27.93, a PEG ratio of 5.29 and a beta of -0.03. The business's 50 day moving average is $78.40 and its 200 day moving average is $67.79. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80.

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.