Zurcher Kantonalbank Zurich Cantonalbank Purchases 44,203 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 59.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,107 shares of the company’s stock after purchasing an additional 44,203 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Zoom Video Communications were worth $8,237,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Baker Avenue Asset Management LP raised its position in shares of Zoom Video Communications by 82.1% in the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after buying an additional 12,890 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Zoom Video Communications during the second quarter valued at about $763,000. Robeco Institutional Asset Management B.V. grew its position in 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 acquiring an additional 167,618 shares during the last quarter. National Pension Service increased its stake in Zoom Video Communications by 30.1% in the 3rd 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 period. Finally, Eagle Asset Management Inc. bought a new stake in Zoom Video Communications in the third quarter valued at approximately $62,038,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Performance

Shares of ZM opened at $82.69 on Monday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm’s 50-day simple moving average is $75.22 and its two-hundred day simple moving average is $66.33. The stock has a market cap of $25.45 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 5.51 and a beta of -0.05.

Insider Transactions at Zoom Video Communications

In other news, 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 owns 2,809 shares in the company, valued at approximately $191,264.81. This represents a 23.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total transaction of $13,733,895.61. The disclosure for this sale can be found here. Insiders have sold a total of 367,108 shares of company stock valued at $26,796,191 in the last ninety days. 10.78% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Hsbc Global Res upgraded shares of Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Robert W. Baird cut their target price on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. Finally, Stifel Nicolaus upped their price target on Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a research report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $85.19.

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.