Bank of Nova Scotia acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM – Free Report) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 480,649 shares of the company’s stock, valued at approximately $34,562,000.
Other large investors also recently bought and sold shares of the company. Principal Securities Inc. purchased a new position in Zoom Video Communications during the fourth quarter worth about $25,000. Quadrant Capital Group LLC increased its holdings in Zoom Video Communications by 269.7% during the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares during the last quarter. Frazier Financial Advisors LLC bought a new stake in shares of Zoom Video Communications in the 4th quarter valued at approximately $32,000. Rakuten Securities Inc. bought a new stake in shares of Zoom Video Communications in the 4th quarter valued at approximately $43,000. Finally, GAMMA Investing LLC bought a new stake in shares of Zoom Video Communications in the 4th quarter valued at approximately $48,000. Institutional investors and hedge funds own 66.54% of the company’s stock.
Zoom Video Communications Stock Performance
Shares of NASDAQ:ZM traded up $0.81 during midday trading on Friday, reaching $61.34. The company had a trading volume of 4,489,134 shares, compared to its average volume of 3,281,616. Zoom Video Communications, Inc. has a 1-year low of $58.87 and a 1-year high of $75.90. The firm has a market cap of $18.87 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 9.48 and a beta of -0.05. The company has a fifty day simple moving average of $62.58 and a two-hundred day simple moving average of $65.88.
Analyst Upgrades and Downgrades
Check Out Our Latest Research Report on ZM
Insider Activity at Zoom Video Communications
In related news, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $61.58, for a total value of $308,331.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Eric S. Yuan sold 27,963 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total transaction of $1,733,146.74. Following the transaction, the chief executive officer now owns 95,140 shares of the company’s stock, valued at approximately $5,896,777.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kelly Steckelberg sold 5,007 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $61.58, for a total value of $308,331.06. The disclosure for this sale can be found here. Insiders sold 106,177 shares of company stock worth $6,664,432 in the last quarter. 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.
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