Zoom Video Communications, Inc. (NASDAQ:ZM) Stake Increased by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust raised its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 277.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 351 shares of the company’s stock after acquiring an additional 258 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Zoom Video Communications were worth $29,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ZM. FMR LLC lifted its stake in Zoom Video Communications by 23.8% during the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after purchasing an additional 2,395,396 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in Zoom Video Communications during the third quarter valued at $62,038,000. Assenagon Asset Management S.A. increased its stake in Zoom Video Communications by 126.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock valued at $102,119,000 after purchasing an additional 699,625 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Zoom Video Communications by 202.8% in the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock worth $64,054,000 after buying an additional 521,778 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in shares of Zoom Video Communications by 48.1% in the 3rd quarter. Retirement Systems of Alabama now owns 903,797 shares of the company’s stock valued at $63,031,000 after buying an additional 293,375 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZM has been the topic of a number of recent research reports. Mizuho raised their target price on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Benchmark reissued a “buy” rating and issued a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Bank of America boosted their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Finally, Hsbc Global Res raised shares of Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $90.05.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $74.31 on Tuesday. The stock has a market cap of $22.78 billion and a PE ratio of 24.77. The business’s fifty day moving average is $82.08 and its 200-day moving average is $77.15. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 83,332 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan Chadwick sold 25,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 1,514 shares in the company, valued at $121,619.62. This trade represents a 94.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 382,242 shares of company stock valued at $31,230,938 over the last three months. Company 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.