Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by Fmr LLC

Fmr LLC increased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 23.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,444,887 shares of the company’s stock after buying an additional 2,395,396 shares during the quarter. Fmr LLC’s holdings in Zoom Video Communications were worth $867,906,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Zoom Video Communications in the 1st quarter worth approximately $260,000. California State Teachers Retirement System lifted its position in Zoom Video Communications by 1.7% in the first quarter. California State Teachers Retirement System now owns 396,209 shares of the company’s stock worth $25,900,000 after purchasing an additional 6,630 shares during the period. Tidal Investments LLC boosted its stake in Zoom Video Communications by 89.7% during the 1st quarter. Tidal Investments LLC now owns 34,352 shares of the company’s stock valued at $2,246,000 after purchasing an additional 16,248 shares in the last quarter. Comerica Bank boosted its stake in Zoom Video Communications by 15.6% during the 1st quarter. Comerica Bank now owns 4,966 shares of the company’s stock valued at $325,000 after purchasing an additional 670 shares in the last quarter. Finally, iA Global Asset Management Inc. increased its position in shares of Zoom Video Communications by 27.3% during the 1st quarter. iA Global Asset Management Inc. now owns 4,060 shares of the company’s stock valued at $265,000 after purchasing an additional 870 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Trading Up 2.3 %

ZM opened at $85.36 on Thursday. The stock has a fifty day moving average price of $74.55 and a 200 day moving average price of $66.03. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The stock has a market cap of $26.27 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 7.12 and a beta of -0.05.

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $68.38, for a total transaction of $165,479.60. Following the transaction, the chief executive officer now directly owns 85,514 shares of the company’s stock, valued at $5,847,447.32. This represents a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Aparna Bawa sold 880 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $68.09, for a total value of $59,919.20. Following the completion of the sale, the chief operating officer now directly owns 2,809 shares of the company’s stock, valued at $191,264.81. This represents a 23.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 367,108 shares of company stock worth $26,796,191 in the last three months. 10.78% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Robert W. Baird dropped their price target on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Benchmark increased their price objective on Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their target price on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company increased their price target on Zoom Video Communications from $60.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $85.19.

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.