Perpetual Ltd Has $2.10 Million Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Perpetual Ltd boosted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 10.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,782 shares of the company’s stock after acquiring an additional 2,538 shares during the quarter. Perpetual Ltd’s holdings in Zoom Video Communications were worth $2,104,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Baker Avenue Asset Management LP raised its holdings in shares of Zoom Video Communications by 82.1% during the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after acquiring an additional 12,890 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Zoom Video Communications during the 2nd quarter worth about $763,000. HighTower Advisors LLC raised its stake in shares of Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after purchasing an additional 52,039 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Zoom Video Communications by 15.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock valued at $87,713,000 after buying an additional 167,618 shares during the last quarter. Finally, Eagle Asset Management Inc. bought a new stake in shares of Zoom Video Communications in the 3rd quarter valued at approximately $62,038,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Up 0.6 %

Shares of ZM opened at $78.54 on Wednesday. The stock’s 50-day moving average price is $82.83 and its 200 day moving average price is $71.96. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The firm has a market capitalization of $24.07 billion, a price-to-earnings ratio of 26.18, a P/E/G ratio of 4.91 and a beta of -0.01.

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total transaction of $13,733,895.61. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Velchamy Sankarlingam sold 3,618 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the completion of the sale, the insider now owns 107,826 shares in the company, valued at approximately $9,158,740.44. This represents a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 489,981 shares of company stock worth $38,712,948. Company insiders own 10.78% of the company’s stock.

Wall Street Analyst Weigh In

ZM has been the subject of a number of analyst reports. Hsbc Global Res upgraded shares of Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Mizuho lifted their price objective on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Piper Sandler raised their target price on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. Sixteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $89.10.

About Zoom Video Communications

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.