Harvest Fund Management Co. Ltd Invests $366,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Harvest Fund Management Co. Ltd bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,501 shares of the company’s stock, valued at approximately $366,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ZM. Quest Partners LLC raised its position in Zoom Video Communications by 28.2% during the third quarter. Quest Partners LLC now owns 9,214 shares of the company’s stock valued at $643,000 after buying an additional 2,029 shares during the period. Banque Cantonale Vaudoise raised its position in Zoom Video Communications by 22.2% during the third quarter. Banque Cantonale Vaudoise now owns 5,253 shares of the company’s stock valued at $366,000 after buying an additional 956 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Zoom Video Communications during the third quarter valued at $443,000. Primecap Management Co. CA raised its position in Zoom Video Communications by 0.7% during the third quarter. Primecap Management Co. CA now owns 1,289,150 shares of the company’s stock valued at $89,905,000 after buying an additional 8,625 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Zoom Video Communications by 6.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,297,443 shares of the company’s stock valued at $90,484,000 after buying an additional 78,940 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 Securities & Exchange Commission, which is available at this link. Also, CAO Shane Crehan sold 1,412 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $111,110.28. Following the completion of the sale, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at $425,240.76. This represents a 20.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 369,271 shares of company stock worth $29,496,892. 10.78% of the stock is currently owned by company insiders.

Zoom Video Communications Stock Down 0.1 %

Shares of NASDAQ:ZM opened at $75.97 on Friday. The business has a 50 day moving average price of $79.98 and a 200 day moving average price of $77.82. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market cap of $23.19 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 5.48 and a beta of 0.26.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Hsbc Global Res raised Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Wednesday. Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Finally, Bank of America upped their target price on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Fifteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $89.33.

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.