Raymond James Financial Inc. Invests $99.47 Million in Zoom Video Communications, Inc. (NASDAQ:ZM)

Raymond James Financial Inc. acquired a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,218,852 shares of the company’s stock, valued at approximately $99,471,000. Raymond James Financial Inc. owned 0.40% of Zoom Video Communications as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ZM. US Bancorp DE grew its position in shares of Zoom Video Communications by 33.5% during the 3rd quarter. US Bancorp DE now owns 2,983 shares of the company’s stock worth $208,000 after buying an additional 749 shares during the period. Farther Finance Advisors LLC grew its position in Zoom Video Communications by 20.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,085 shares of the company’s stock valued at $215,000 after purchasing an additional 526 shares during the period. Janney Montgomery Scott LLC grew its position in Zoom Video Communications by 17.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 18,595 shares of the company’s stock valued at $1,297,000 after purchasing an additional 2,800 shares during the period. Van ECK Associates Corp grew its position in Zoom Video Communications by 1.7% in the 3rd quarter. Van ECK Associates Corp now owns 41,984 shares of the company’s stock valued at $3,045,000 after purchasing an additional 716 shares during the period. Finally, QRG Capital Management Inc. grew its position in Zoom Video Communications by 128.6% in the 3rd quarter. QRG Capital Management Inc. now owns 15,914 shares of the company’s stock valued at $1,110,000 after purchasing an additional 8,952 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

NASDAQ ZM opened at $75.98 on Friday. The stock has a market capitalization of $23.29 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The business’s fifty day moving average is $81.31 and its 200-day moving average is $77.49.

Analyst Ratings Changes

Several analysts recently issued reports on ZM shares. Mizuho lifted their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Benchmark reissued a “buy” rating and issued a $97.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Barclays reduced their price target on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, The Goldman Sachs Group raised their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $90.05.

Insider Activity at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,412 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $111,110.28. Following the sale, the chief accounting officer now directly owns 5,404 shares in the company, valued at approximately $425,240.76. The trade was a 20.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 75,531 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 374,440 shares of company stock worth $29,935,946. Company insiders own 10.78% of the company’s stock.

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.