Handelsbanken Fonder AB Purchases 88,986 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Handelsbanken Fonder AB lifted its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 53.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 256,842 shares of the company’s stock after acquiring an additional 88,986 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.08% of Zoom Video Communications worth $20,961,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global X Japan Co. Ltd. grew its stake in shares of Zoom Video Communications by 127.5% during 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 during the period. Avior Wealth Management LLC grew its stake in shares of Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the period. Geneos Wealth Management Inc. bought a new position in shares of Zoom Video Communications during the 4th quarter worth $39,000. Truvestments Capital LLC purchased a new stake in Zoom Video Communications during the 3rd quarter worth about $37,000. Finally, Allworth Financial LP lifted its holdings in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Trading Down 1.1 %

Shares of Zoom Video Communications stock opened at $82.50 on Friday. The business’s 50-day moving average price is $83.21 and its 200-day moving average price is $75.90. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The firm has a market capitalization of $25.29 billion and a PE ratio of 27.50.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,333 shares of Zoom Video Communications stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total value of $6,958,305.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Velchamy Sankarlingam sold 3,618 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the transaction, the insider now directly owns 107,826 shares in the company, valued at $9,158,740.44. This trade represents a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 382,242 shares of company stock valued at $31,230,938 in the last ninety days. Company insiders own 10.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ZM. JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a report on Friday, January 10th. Cantor Fitzgerald began coverage on Zoom Video Communications in a report on Friday, January 17th. They set a “neutral” rating and a $87.00 price objective on the stock. The Goldman Sachs Group increased their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Mizuho increased their price objective on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Sixteen 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $89.48.

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.