Clear Harbor Asset Management LLC Boosts Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Clear Harbor Asset Management LLC increased its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 31.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,615 shares of the company’s stock after purchasing an additional 1,340 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Zoom Video Communications were worth $458,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its stake in Zoom Video Communications by 23.8% in the 3rd 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 period. State Street Corp lifted its holdings in shares of Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after buying an additional 134,559 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after acquiring an additional 2,520,987 shares during the period. Pacer Advisors Inc. grew its stake in Zoom Video Communications by 4.4% during the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock valued at $382,188,000 after acquiring an additional 233,241 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Zoom Video Communications by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock worth $320,177,000 after acquiring an additional 184,518 shares during the period. 66.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ZM shares. Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company raised shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. Cantor Fitzgerald initiated coverage on Zoom Video Communications in a research note on Friday, January 17th. They issued a “neutral” rating and a $87.00 target price on the stock. Finally, UBS Group lifted their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Sixteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $89.10.

Zoom Video Communications Stock Up 0.6 %

Shares of NASDAQ ZM opened at $78.54 on Wednesday. The firm has a market cap of $24.07 billion, a P/E ratio of 26.18, a PEG ratio of 4.91 and a beta of -0.01. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a 50 day moving average of $82.83 and a 200 day moving average of $71.96.

Insiders Place Their Bets

In other news, COO Aparna Bawa sold 12,075 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $79.15, for a total transaction of $955,736.25. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $156,558.70. This represents a 85.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan Chadwick sold 25,000 shares of Zoom Video Communications 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 completion of the sale, the director now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 489,981 shares of company stock valued at $38,712,948. 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.