Zoom Video Communications, Inc. (NASDAQ:ZM) is Altshuler Shaham Ltd’s 7th Largest Position

Altshuler Shaham Ltd boosted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 285.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,056,277 shares of the company’s stock after purchasing an additional 1,523,480 shares during the quarter. Zoom Video Communications comprises 5.7% of Altshuler Shaham Ltd’s portfolio, making the stock its 7th largest position. Altshuler Shaham Ltd owned approximately 0.67% of Zoom Video Communications worth $167,813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in shares of Zoom Video Communications in the fourth quarter worth approximately $751,908,000. Raymond James Financial Inc. bought a new stake in shares of Zoom Video Communications in the 4th quarter worth $99,471,000. Contrarius Group Holdings Ltd purchased a new position in shares of Zoom Video Communications in the fourth quarter worth $72,854,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Zoom Video Communications by 357.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 998,744 shares of the company’s stock valued at $81,507,000 after buying an additional 780,446 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Zoom Video Communications by 126.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock worth $102,119,000 after buying an additional 699,625 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. UBS Group decreased their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Mizuho dropped their price target on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating on the stock in a research note on Tuesday. Rosenblatt Securities reissued a “buy” rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Wednesday, March 19th. Finally, Citigroup cut their price target on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $86.62.

Insiders Place Their Bets

In related news, Director Santiago Subotovsky sold 2,475 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the completion of the sale, the director now directly owns 169,452 shares in the company, valued at $13,193,532.72. This trade represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 75,531 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The disclosure for this sale can be found here. Insiders sold 202,459 shares of company stock valued at $16,014,017 in the last three months. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $71.20 on Thursday. The stock has a 50 day moving average price of $75.90 and a 200-day moving average price of $78.42. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The company has a market capitalization of $21.73 billion, a P/E ratio of 23.73, a P/E/G ratio of 5.48 and a beta of 0.67.

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.