Contrarius Group Holdings Ltd Buys New Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Contrarius Group Holdings Ltd bought a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 892,715 shares of the company’s stock, valued at approximately $72,854,000. Zoom Video Communications makes up about 4.5% of Contrarius Group Holdings Ltd’s investment portfolio, making the stock its 10th biggest position. Contrarius Group Holdings Ltd owned about 0.29% of Zoom Video Communications as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC raised its stake in Zoom Video Communications by 23.8% in the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after purchasing an additional 2,395,396 shares in the last quarter. State Street Corp raised its stake in shares of Zoom Video Communications by 2.3% during the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after acquiring an additional 134,559 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Zoom Video Communications by 4.4% during the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock worth $382,188,000 after acquiring an additional 233,241 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Zoom Video Communications by 4.2% during the third quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock worth $320,177,000 after acquiring an additional 184,518 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Zoom Video Communications by 9.8% during the third quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company’s stock worth $101,032,000 after acquiring an additional 128,800 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Aparna Bawa sold 9,317 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was 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 trade represents a 39.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 369,271 shares of company stock valued at $29,496,892 in the last quarter. 10.78% of the stock is owned by insiders.

Zoom Video Communications Trading Up 1.1 %

Shares of ZM stock opened at $76.26 on Thursday. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The stock has a market cap of $23.28 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. The company’s fifty day moving average price is $80.13 and its 200-day moving average price is $77.79.

Wall Street Analysts Forecast Growth

ZM has been the topic of several research reports. Bank of America lifted their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. The Goldman Sachs Group lifted their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. UBS Group decreased their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Finally, JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $89.33.

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.