Itau Unibanco Holding S.A. Has $497,000 Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Itau Unibanco Holding S.A. grew its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,121 shares of the company’s stock after acquiring an additional 131 shares during the period. Itau Unibanco Holding S.A.’s holdings in Zoom Video Communications were worth $497,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. grew its position in shares of Zoom Video Communications by 31.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 114,173 shares of the company’s stock worth $7,962,000 after buying an additional 27,116 shares during the period. HighTower Advisors LLC grew its stake in shares of Zoom Video Communications by 449.4% in the third quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after purchasing an additional 52,039 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Zoom Video Communications during the third quarter valued at $3,417,000. True Wealth Design LLC raised its holdings in Zoom Video Communications by 10,763.6% in the 3rd quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock worth $83,000 after acquiring an additional 1,184 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Zoom Video Communications by 67.6% in the 3rd quarter. Captrust Financial Advisors now owns 11,361 shares of the company’s stock worth $792,000 after buying an additional 4,584 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ZM shares. Scotiabank raised Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Rosenblatt Securities restated a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a report on Friday, November 22nd. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their price target for the company from $70.00 to $115.00 in a research note on Tuesday, November 26th. Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Finally, JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus price target of $85.19.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $83.11 on Tuesday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The company has a fifty day moving average of $75.22 and a 200-day moving average of $66.33. The company has a market capitalization of $25.58 billion, a P/E ratio of 27.70, a P/E/G ratio of 5.22 and a beta of -0.03.

Insider Activity at Zoom Video Communications

In other news, CFO Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $68.44, for a total transaction of $609,184.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Aparna Bawa sold 880 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was 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 $191,264.81. The trade was a 23.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 367,108 shares of company stock valued at $26,796,191. 10.78% of the stock is owned by company insiders.

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.