Shell Asset Management Co. Buys New Shares in Zoom Video Communications, Inc. (NASDAQ:ZM)

Shell Asset Management Co. bought a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) during the 4th quarter, HoldingsChannel reports. The firm bought 3,491 shares of the company’s stock, valued at approximately $285,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Zoom Video Communications in the fourth quarter valued at $751,908,000. Altshuler Shaham Ltd increased its stake in Zoom Video Communications by 285.9% in the fourth quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company’s stock valued at $167,813,000 after purchasing an additional 1,523,480 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Zoom Video Communications by 24.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after purchasing an additional 1,247,717 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Zoom Video Communications in the fourth quarter valued at $99,471,000. Finally, Contrarius Group Holdings Ltd bought a new stake in Zoom Video Communications in the fourth quarter valued at $72,854,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ZM. Stifel Nicolaus decreased their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. Morgan Stanley decreased their target price on shares of Zoom Video Communications from $96.00 to $73.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Mizuho decreased their target price 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. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $86.33.

Zoom Video Communications Stock Up 0.9%

ZM opened at $84.62 on Monday. The stock has a market cap of $25.83 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company’s 50-day moving average price is $75.22 and its two-hundred day moving average price is $79.61.

Insider Buying and Selling at Zoom Video Communications

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

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.