Assenagon Asset Management S.A. Has $102.12 Million Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Assenagon Asset Management S.A. raised its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 126.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,251,302 shares of the company’s stock after acquiring an additional 699,625 shares during the quarter. Assenagon Asset Management S.A. owned about 0.41% of Zoom Video Communications worth $102,119,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. raised its stake in shares of Zoom Video Communications by 1.9% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after acquiring an additional 131 shares in the last quarter. MML Investors Services LLC raised its position in shares of Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after purchasing an additional 132 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Zoom Video Communications by 1.9% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after buying an additional 145 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after buying an additional 154 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Zoom Video Communications by 27.1% in the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after acquiring an additional 164 shares during the period. 66.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ZM has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. The Goldman Sachs Group raised their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Mizuho boosted their price objective on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $87.81.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $79.20 on Wednesday. The stock has a market cap of $24.27 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 5.29 and a beta of -0.01. The stock has a 50-day moving average of $83.05 and a 200-day moving average of $71.39. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

Insider Activity at Zoom Video Communications

In related news, COO Aparna Bawa sold 9,317 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $733,154.73. Following the completion of the transaction, the chief operating officer now directly owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. This represents a 39.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Shane Crehan sold 1,551 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the sale, the chief accounting officer now owns 3,251 shares in the company, valued at approximately $276,139.94. This trade represents a 32.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 370,592 shares of company stock worth $28,972,914. 10.78% of the stock is currently owned by company insiders.

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.