Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC boosted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 263.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 92,464 shares of the company’s stock after purchasing an additional 67,054 shares during the period. Cerity Partners LLC’s holdings in Zoom Video Communications were worth $6,448,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its holdings in shares of Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after buying an additional 2,520,987 shares during the period. Pacer Advisors Inc. lifted its holdings in Zoom Video Communications by 4.4% in the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock valued at $382,188,000 after acquiring an additional 233,241 shares during the period. Acadian Asset Management LLC boosted its position in shares of Zoom Video Communications by 60.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after purchasing an additional 1,855,679 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Zoom Video Communications by 24.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company’s stock worth $80,827,000 after purchasing an additional 264,217 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Zoom Video Communications by 6.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,297,443 shares of the company’s stock worth $90,484,000 after purchasing an additional 78,940 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at $131,121.62. The trade was a 29.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 3,614 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $241,668.18. Following the completion of the transaction, the insider now directly owns 94,000 shares in the company, valued at approximately $6,285,780. This represents a 3.70 % 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 worth $26,796,191. 10.78% of the stock is owned by insiders.

Zoom Video Communications Stock Up 2.3 %

Shares of ZM opened at $85.36 on Thursday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The company’s fifty day moving average is $74.55 and its two-hundred day moving average is $66.03. The firm has a market cap of $26.27 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 7.60 and a beta of -0.05.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ZM. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday. Piper Sandler boosted their price objective on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday. Stifel Nicolaus raised their target price on shares of Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Finally, Mizuho increased their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $85.19.

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.