Van ECK Associates Corp Has $6.42 Million Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Van ECK Associates Corp lifted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 87.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,679 shares of the company’s stock after acquiring an additional 36,695 shares during the quarter. Van ECK Associates Corp’s holdings in Zoom Video Communications were worth $6,421,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. FMR LLC increased its holdings in Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after buying an additional 2,395,396 shares during the period. Eagle Asset Management Inc. bought a new position in shares of Zoom Video Communications during the 3rd quarter worth about $62,038,000. Assenagon Asset Management S.A. boosted its position in shares of Zoom Video Communications by 126.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock valued at $102,119,000 after acquiring an additional 699,625 shares in the last quarter. Nordea Investment Management AB increased its stake in Zoom Video Communications by 202.8% in the fourth quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock valued at $64,054,000 after acquiring an additional 521,778 shares during the period. Finally, International Assets Investment Management LLC raised its position in Zoom Video Communications by 6,614.6% in the third quarter. International Assets Investment Management LLC now owns 499,966 shares of the company’s stock worth $34,868,000 after purchasing an additional 492,520 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ZM. Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $70.00 to $115.00 in a report on Tuesday, November 26th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research note on Friday, January 10th. Morgan Stanley lifted their price target on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Rosenblatt Securities restated a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research report on Friday, November 22nd. Finally, Bank of America upped their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Sixteen 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 company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $89.10.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $85.10 on Tuesday. The company’s 50-day simple moving average is $83.29 and its two-hundred day simple moving average is $75.41. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The company has a market capitalization of $26.08 billion and a P/E ratio of 28.37.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,618 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the transaction, the insider now directly owns 107,826 shares of the company’s stock, valued at $9,158,740.44. This trade represents a 3.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 83,333 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total transaction of $6,958,305.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 382,242 shares of company stock valued at $31,230,938. Corporate insiders own 10.78% of the company’s stock.

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.