Russell Investments Group Ltd. Acquires 63,378 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Russell Investments Group Ltd. boosted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 17.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 421,517 shares of the company’s stock after acquiring an additional 63,378 shares during the period. Russell Investments Group Ltd.’s holdings in Zoom Video Communications were worth $34,705,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ZM. Global X Japan Co. Ltd. raised its position in shares of Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after acquiring an additional 190 shares in the last quarter. Avior Wealth Management LLC grew its stake in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. Parkside Financial Bank & Trust raised its holdings in Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 258 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in Zoom Video Communications in the fourth quarter worth $39,000. Finally, MRP Capital Investments LLC boosted its holdings in shares of Zoom Video Communications by 500.0% during the 4th quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock valued at $49,000 after buying an additional 500 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Up 0.4 %

Zoom Video Communications stock opened at $68.05 on Tuesday. The business has a 50-day simple moving average of $78.85 and a two-hundred day simple moving average of $78.51. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The company has a market cap of $20.77 billion, a P/E ratio of 22.68, a P/E/G ratio of 5.48 and a beta of 0.67.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 33,751 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total transaction of $2,655,866.19. Following the transaction, the chief executive officer now owns 34,703 shares of the company’s stock, valued at $2,730,779.07. The trade was a 49.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Aparna Bawa sold 9,317 shares of the company’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 transaction of $733,154.73. Following the completion of the transaction, the chief operating officer now owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. The trade was a 39.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 371,746 shares of company stock worth $29,689,595. 10.78% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ZM. UBS Group lowered their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Jefferies Financial Group upgraded shares of Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $100.00 in a report on Thursday, December 19th. Rosenblatt Securities reaffirmed a “buy” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Citigroup dropped their target price on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Finally, Barclays reduced their price target on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $89.33.

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.