Zurcher Kantonalbank Zurich Cantonalbank Has $11.20 Million Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 16.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 137,194 shares of the company's stock after acquiring an additional 19,087 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Zoom Video Communications were worth $11,196,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE grew its stake in shares of Zoom Video Communications by 33.5% in the third quarter. US Bancorp DE now owns 2,983 shares of the company's stock worth $208,000 after purchasing an additional 749 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Zoom Video Communications by 17.7% in the third quarter. Janney Montgomery Scott LLC now owns 18,595 shares of the company's stock worth $1,297,000 after purchasing an additional 2,800 shares during the period. Amalgamated Bank grew its position in Zoom Video Communications by 1.9% in the 3rd quarter. Amalgamated Bank now owns 13,912 shares of the company's stock valued at $970,000 after buying an additional 257 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Zoom Video Communications during the 3rd quarter valued at about $203,000. Finally, Venturi Wealth Management LLC raised its position in shares of Zoom Video Communications by 56.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company's stock worth $53,000 after buying an additional 274 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts recently commented on ZM shares. Sanford C. Bernstein raised their price objective on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a "market perform" rating in a research note on Tuesday, November 26th. Evercore ISI upgraded shares of Zoom Video Communications from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $70.00 to $115.00 in a research report on Tuesday, November 26th. Barclays reduced their price objective on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus dropped their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. Finally, Morgan Stanley raised their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 18th. 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $90.05.

Zoom Video Communications Stock Down 2.3 %

Shares of NASDAQ:ZM traded down $1.72 on Thursday, reaching $72.23. The company had a trading volume of 2,033,408 shares, compared to its average volume of 2,732,921. The stock has a market capitalization of $22.14 billion, a P/E ratio of 24.08, a P/E/G ratio of 5.48 and a beta of 0.26. The stock has a 50-day moving average price of $80.61 and a 200 day moving average price of $77.61. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 75,531 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Shane Crehan sold 1,412 shares of the company'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 value of $111,110.28. Following the completion of the transaction, the chief accounting officer now directly owns 5,404 shares of the company's stock, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 369,271 shares of company stock worth $29,496,892. 10.78% of the stock is currently owned by insiders.

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.