Fmr LLC Has $1.04 Billion Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Fmr LLC increased its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,727,532 shares of the company’s stock after purchasing an additional 282,645 shares during the quarter. Fmr LLC’s holdings in Zoom Video Communications were worth $1,038,694,000 as of its most recent SEC filing.

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

Insider Transactions at Zoom Video Communications

In other news, Director Santiago Subotovsky sold 2,475 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $77.86, for a total value of $192,703.50. Following the transaction, the director now owns 169,452 shares of the company’s stock, valued at approximately $13,193,532.72. This represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of Zoom Video Communications stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. Insiders sold 371,746 shares of company stock valued at $29,689,595 over the last three months. Company insiders own 10.78% of the company’s stock.

Analyst Ratings Changes

ZM has been the topic of several analyst reports. Stifel Nicolaus cut their target price on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Scotiabank dropped their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Monday, March 17th. Jefferies Financial Group upgraded shares of Zoom Video Communications from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $100.00 in a report on Thursday, December 19th. Finally, Benchmark reiterated a “buy” rating and issued a $97.00 price objective on shares of Zoom Video Communications 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $89.33.

Zoom Video Communications Trading Up 0.4 %

ZM opened at $68.05 on Tuesday. The company has a 50 day moving average of $78.85 and a 200 day moving average of $78.51. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The company has a market cap of $20.77 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67.

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.