Treasurer of the State of North Carolina Buys 9,667 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Treasurer of the State of North Carolina raised its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 152,340 shares of the company’s stock after acquiring an additional 9,667 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Zoom Video Communications were worth $12,432,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Merit Financial Group LLC acquired a new stake in shares of Zoom Video Communications during the fourth quarter worth $1,072,000. Nordea Investment Management AB increased its position in Zoom Video Communications by 202.8% during the fourth quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock worth $64,054,000 after acquiring an additional 521,778 shares during the period. Retirement Systems of Alabama raised its stake in Zoom Video Communications by 48.1% in the 3rd quarter. Retirement Systems of Alabama now owns 903,797 shares of the company’s stock worth $63,031,000 after purchasing an additional 293,375 shares in the last quarter. Swedbank AB boosted its holdings in Zoom Video Communications by 96.3% in the 4th quarter. Swedbank AB now owns 82,247 shares of the company’s stock valued at $6,712,000 after purchasing an additional 40,351 shares during the period. Finally, Asset Management One Co. Ltd. grew its position in shares of Zoom Video Communications by 8.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 93,872 shares of the company’s stock worth $7,868,000 after purchasing an additional 7,518 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Price Performance

Zoom Video Communications stock opened at $71.34 on Friday. The business has a 50 day moving average of $76.77 and a 200-day moving average of $78.43. The company has a market capitalization of $21.78 billion, a P/E ratio of 23.78, a P/E/G ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80.

Insiders Place Their Bets

In other news, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total value of $2,008,250.00. Following the completion of the sale, the director now owns 1,514 shares of the company’s stock, valued at approximately $121,619.62. This represents a 94.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the completion of the transaction, the director now directly owns 169,452 shares in the company, valued at approximately $13,193,532.72. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 316,449 shares of company stock valued at $25,338,274 in the last ninety days. 10.78% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ZM has been the subject of a number of analyst reports. Benchmark reiterated a “buy” rating and issued a $97.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Citigroup cut their target price on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Barclays decreased their price target on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Finally, Stifel Nicolaus reduced their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $89.33.

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.