Fmr LLC Boosts Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Fmr LLC raised its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 23.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,444,887 shares of the company’s stock after purchasing an additional 2,395,396 shares during the period. Fmr LLC owned about 4.04% of Zoom Video Communications worth $867,906,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Baker Avenue Asset Management LP lifted its stake 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 valued at $1,994,000 after buying an additional 12,890 shares during the period. Sanctuary Advisors LLC acquired a new position in Zoom Video Communications in the 2nd quarter valued at $763,000. Robeco Institutional Asset Management B.V. lifted its stake 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 worth $87,713,000 after purchasing an additional 167,618 shares during the period. National Pension Service boosted its holdings in shares of Zoom Video Communications by 30.1% during the third quarter. National Pension Service now owns 655,227 shares of the company’s stock worth $45,696,000 after purchasing an additional 151,728 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Zoom Video Communications in the third quarter valued at $62,038,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 2,420 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $68.38, for a total value of $165,479.60. Following the transaction, the chief executive officer now owns 85,514 shares of the company’s stock, valued at $5,847,447.32. This trade represents a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Aparna Bawa sold 880 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $68.09, for a total value of $59,919.20. Following the transaction, the chief operating officer now directly owns 2,809 shares of the company’s stock, valued at $191,264.81. This trade represents a 23.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 367,108 shares of company stock valued at $26,796,191. Insiders own 10.78% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Stifel Nicolaus raised their price target on Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday. Sanford C. Bernstein increased their price target on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research note on Tuesday. Mizuho boosted 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. Robert W. Baird cut their price target on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 22nd. Finally, Bank of America boosted their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $85.19.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $85.36 on Thursday. The firm has a fifty day moving average of $74.55 and a two-hundred day moving average of $66.03. The firm has a market cap of $26.27 billion, a P/E ratio of 28.45, a P/E/G ratio of 7.12 and a beta of -0.05. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

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.