Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 11.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,073 shares of the company’s stock after purchasing an additional 19,121 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.06% of Zoom Video Communications worth $15,471,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. raised its holdings in shares of Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after buying an additional 190 shares during the last quarter. Avior Wealth Management LLC raised its stake in Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 258 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Zoom Video Communications in the fourth quarter valued at about $39,000. Finally, MRP Capital Investments LLC raised its stake in shares of Zoom Video Communications by 500.0% in the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock worth $49,000 after purchasing an additional 500 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on ZM. Scotiabank cut their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Monday, March 17th. Benchmark restated a “buy” rating and set a $97.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Morgan Stanley increased their price target on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Finally, Citigroup reduced their price target on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $89.33.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $73.77 on Tuesday. The business has a fifty day moving average price of $79.69 and a 200 day moving average price of $78.36. The company has a market cap of $22.52 billion, a P/E ratio of 24.59, a P/E/G ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

Insider Transactions at Zoom Video Communications

In related news, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the completion of the sale, the director now owns 169,452 shares of the company’s stock, valued at approximately $13,193,532.72. This trade represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Velchamy Sankarlingam sold 10,817 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 $851,189.73. Following the completion of the sale, the insider now owns 117,760 shares of the company’s stock, valued at approximately $9,266,534.40. The trade was a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 371,746 shares of company stock valued at $29,689,595 over the last 90 days. 10.78% of the stock is currently owned by corporate insiders.

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.