Rafferty Asset Management LLC Acquires 3,155 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Rafferty Asset Management LLC increased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 14.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,058 shares of the company’s stock after purchasing an additional 3,155 shares during the period. Rafferty Asset Management LLC’s holdings in Zoom Video Communications were worth $2,045,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Raiffeisen Bank International AG bought a new position in shares of Zoom Video Communications during the 4th quarter valued at $30,000. Quantinno Capital Management LP grew its holdings in shares of Zoom Video Communications by 172.5% during the 4th quarter. Quantinno Capital Management LP now owns 154,883 shares of the company’s stock valued at $12,640,000 after purchasing an additional 98,048 shares during the last quarter. Man Group plc grew its holdings in shares of Zoom Video Communications by 249.1% in the fourth quarter. Man Group plc now owns 341,005 shares of the company’s stock worth $27,829,000 after purchasing an additional 243,326 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in shares of Zoom Video Communications by 4.5% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 53,246 shares of the company’s stock worth $4,463,000 after buying an additional 2,296 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in shares of Zoom Video Communications by 2.6% in the fourth quarter. Nuveen Asset Management LLC now owns 516,678 shares of the company’s stock worth $42,166,000 after buying an additional 12,927 shares during the period. Institutional investors own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

ZM has been the subject of several analyst reports. Barclays dropped their price target on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Mizuho dropped their price target on shares of Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Scotiabank increased their price target on shares of Zoom Video Communications from $75.00 to $85.00 and gave the company a “sector perform” rating in a research report on Friday, May 16th. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Morgan Stanley cut their price target on shares of Zoom Video Communications from $96.00 to $73.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Fifteen equities research 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 MarketBeat, Zoom Video Communications has an average rating of “Hold” and an average price target of $86.33.

Insider Activity

In other news, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $78.82, for a total transaction of $195,079.50. Following the completion of the transaction, the director now directly owns 157,824 shares in the company, valued at approximately $12,439,687.68. This represents a 1.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Velchamy Sankarlingam sold 11,839 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the transaction, the insider now owns 125,529 shares of the company’s stock, valued at $9,026,790.39. This represents a 8.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 164,515 shares of company stock worth $12,132,994. 11.51% of the stock is currently owned by insiders.

Zoom Video Communications Price Performance

Shares of ZM opened at $83.10 on Wednesday. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The company has a 50 day simple moving average of $75.62 and a two-hundred day simple moving average of $79.69. The firm has a market cap of $25.36 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79.

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.