Tri Ri Asset Management Corp Buys Shares of 38,045 Zoom Video Communications, Inc. (NASDAQ:ZM)

Tri Ri Asset Management Corp purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 38,045 shares of the company’s stock, valued at approximately $2,653,000. Zoom Video Communications comprises 1.4% of Tri Ri Asset Management Corp’s holdings, making the stock its 27th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. grew its holdings in shares of Zoom Video Communications by 96.7% during the 2nd quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after purchasing an additional 2,579,720 shares during the period. AQR Capital Management LLC lifted its position in 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 buying an additional 2,520,987 shares during the last quarter. FMR LLC boosted 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 buying an additional 2,395,396 shares during the period. Acadian Asset Management LLC boosted its stake in Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after buying an additional 1,855,679 shares during the period. Finally, Eagle Asset Management Inc. acquired a new stake in shares of Zoom Video Communications during the third quarter valued at about $62,038,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Stock Up 0.5 %

Shares of ZM opened at $87.05 on Friday. The stock has a 50 day moving average price of $78.10 and a 200 day moving average price of $67.61. The company has a market capitalization of $26.68 billion, a price-to-earnings ratio of 29.02, a price-to-earnings-growth ratio of 5.46 and a beta of -0.03. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 8,901 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $66.47, for a total transaction of $591,649.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Velchamy Sankarlingam sold 10,338 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $69.51, for a total value of $718,594.38. Following the sale, the insider now directly owns 104,414 shares of the company’s stock, valued at $7,257,817.14. The trade was a 9.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 437,414 shares of company stock worth $32,958,564 over the last 90 days. Corporate insiders own 10.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Scotiabank raised Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Finally, Wedbush started coverage on Zoom Video Communications in a research report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 target price for the company. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $85.19.

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.