Zoom Video Communications, Inc. (NASDAQ:ZM) Position Boosted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 10.4% during the fourth quarter, Holdings Channel reports. The firm owned 26,829 shares of the company’s stock after purchasing an additional 2,523 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Zoom Video Communications were worth $2,190,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ZM. Avior Wealth Management LLC lifted its stake in Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after buying an additional 265 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Zoom Video Communications during the fourth quarter valued at approximately $39,000. Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications in the 3rd quarter valued at approximately $37,000. Allworth Financial LP boosted its stake in Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the period. Finally, Venturi Wealth Management LLC grew its position in Zoom Video Communications by 56.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after purchasing an additional 274 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Mizuho increased their target price on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $70.00 to $115.00 in a research note on Tuesday, November 26th. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday, November 26th. Sixteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $89.10.

Zoom Video Communications Stock Up 1.1 %

Shares of ZM stock opened at $87.10 on Tuesday. The business’s 50 day moving average is $83.18 and its two-hundred day moving average is $74.55. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The company has a market cap of $26.70 billion and a PE ratio of 29.03.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total value of $2,008,250.00. Following the completion of the sale, the director now directly owns 1,514 shares of the company’s stock, valued at $121,619.62. This represents a 94.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 382,242 shares of company stock worth $31,230,938. 10.78% of the stock is owned by 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.