Plato Investment Management Ltd Increases Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Plato Investment Management Ltd boosted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 19.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,020 shares of the company’s stock after purchasing an additional 1,631 shares during the quarter. Plato Investment Management Ltd’s holdings in Zoom Video Communications were worth $821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of ZM. Bellecapital International Ltd. raised its stake in shares of Zoom Video Communications by 12.8% during the fourth quarter. Bellecapital International Ltd. now owns 26,292 shares of the company’s stock worth $2,146,000 after acquiring an additional 2,984 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Zoom Video Communications during the fourth quarter worth approximately $2,040,000. Jones Financial Companies Lllp raised its stake in shares of Zoom Video Communications by 36.1% during the fourth quarter. Jones Financial Companies Lllp now owns 8,704 shares of the company’s stock worth $710,000 after acquiring an additional 2,307 shares in the last quarter. Metis Global Partners LLC raised its stake in shares of Zoom Video Communications by 6.3% during the fourth quarter. Metis Global Partners LLC now owns 4,300 shares of the company’s stock worth $351,000 after acquiring an additional 254 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of Zoom Video Communications by 17.2% during the fourth quarter. US Bancorp DE now owns 3,495 shares of the company’s stock worth $285,000 after acquiring an additional 512 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Trading Up 0.8 %

Shares of ZM stock opened at $74.31 on Tuesday. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The stock has a market cap of $22.78 billion and a PE ratio of 24.77. The company’s fifty day moving average price is $82.08 and its 200-day moving average price is $77.15.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Benchmark reissued a “buy” rating and set a $97.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Morgan Stanley raised their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Cantor Fitzgerald restated a “neutral” rating and issued a $87.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $70.00 to $85.00 in a report on Tuesday, January 7th. Fifteen equities research 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 MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $90.05.

Insider Activity

In other news, Director Jonathan Chadwick sold 25,000 shares of Zoom Video Communications 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 transaction, the director now owns 1,514 shares of the company’s stock, valued at $121,619.62. The trade was a 94.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 83,333 shares of Zoom Video Communications stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total value of $6,958,305.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 382,242 shares of company stock worth $31,230,938. Corporate insiders own 10.78% of the company’s stock.

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.