Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by Avory & Company LLC

Avory & Company LLC increased its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 2.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 302,590 shares of the company’s stock after purchasing an additional 5,840 shares during the quarter. Zoom Video Communications makes up approximately 13.8% of Avory & Company LLC’s investment portfolio, making the stock its 2nd largest position. Avory & Company LLC’s holdings in Zoom Video Communications were worth $24,694,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ZM. FMR LLC lifted its holdings in Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after purchasing an additional 2,395,396 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Zoom Video Communications during the 4th quarter valued at $99,471,000. Eagle Asset Management Inc. acquired a new stake in Zoom Video Communications during the 3rd quarter valued at $62,038,000. Assenagon Asset Management S.A. lifted its holdings in Zoom Video Communications by 126.8% during the 4th 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. Finally, Nordea Investment Management AB lifted its holdings in Zoom Video Communications by 202.8% during the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock valued at $64,054,000 after purchasing an additional 521,778 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ZM. UBS Group dropped their target price on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Morgan Stanley lifted their target price on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Mizuho lifted their target price on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Hsbc Global Res raised Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Fifteen investment 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $90.05.

Zoom Video Communications Stock Up 0.9 %

Zoom Video Communications stock opened at $75.60 on Thursday. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The business’s 50-day moving average price is $81.66 and its two-hundred day moving average price is $77.26. The stock has a market cap of $23.17 billion, a PE ratio of 25.20, a P/E/G ratio of 5.48 and a beta of 0.26.

Insider Buying and Selling at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 83,332 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which is available through the SEC website. Also, Director Jonathan Chadwick sold 25,000 shares of the business’s stock in a transaction dated 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 owns 1,514 shares in the company, valued at approximately $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 298,909 shares of company stock worth $24,272,632 over the last 90 days. Insiders own 10.78% of the company’s stock.

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.