Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 59.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,107 shares of the company's stock after buying an additional 44,203 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Zoom Video Communications were worth $8,237,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Baker Avenue Asset Management LP boosted its holdings in shares of Zoom Video Communications by 82.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company's stock valued at $1,994,000 after acquiring an additional 12,890 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Zoom Video Communications during the 2nd quarter worth about $763,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Zoom Video Communications by 15.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company's stock valued at $87,713,000 after buying an additional 167,618 shares during the last quarter. National Pension Service boosted its stake in shares of Zoom Video Communications by 30.1% in the third quarter. National Pension Service now owns 655,227 shares of the company's stock worth $45,696,000 after buying an additional 151,728 shares during the last quarter. Finally, Eagle Asset Management Inc. acquired a new stake in Zoom Video Communications during the third quarter worth about $62,038,000. Hedge funds and other institutional investors own 66.54% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wedbush began coverage on shares of Zoom Video Communications in a research note on Thursday, October 17th. They set an "outperform" rating and a $85.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the company a "hold" rating in a report on Friday, August 23rd. The Goldman Sachs Group lifted their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Rosenblatt Securities restated a "buy" rating and set a $78.00 target price on shares of Zoom Video Communications in a research note on Friday, November 22nd. Finally, Hsbc Global Res raised shares of Zoom Video Communications to a "strong-buy" rating in a research report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Zoom Video Communications currently has a consensus rating of "Hold" and a consensus price target of $85.19.

Zoom Video Communications Trading Up 0.5 %

NASDAQ ZM traded up $0.42 on Monday, hitting $83.11. 2,942,400 shares of the company were exchanged, compared to its average volume of 3,354,177. The stock has a fifty day moving average of $75.22 and a 200-day moving average of $66.33. The company has a market cap of $25.58 billion, a PE ratio of 27.70, a PEG ratio of 5.22 and a beta of -0.03. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80.

Insiders Place Their Bets

In other news, CFO Kelly Steckelberg sold 8,901 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $66.47, for a total value of $591,649.47. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Aparna Bawa sold 831 shares of the business's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at $131,121.62. This trade represents a 29.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 367,108 shares of company stock valued at $26,796,191. Company insiders own 10.78% of the company's stock.

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.