US Bancorp DE Increases Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

US Bancorp DE increased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 17.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,495 shares of the company’s stock after purchasing an additional 512 shares during the period. US Bancorp DE’s holdings in Zoom Video Communications were worth $285,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Global X Japan Co. Ltd. grew its position in Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after acquiring an additional 190 shares during the period. Avior Wealth Management LLC grew its position 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 acquiring an additional 265 shares during the period. Parkside Financial Bank & Trust grew its position in Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 258 shares during the period. Truvestments Capital LLC acquired a new position in shares of Zoom Video Communications during the third quarter worth about $37,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Zoom Video Communications during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Sanford C. Bernstein boosted their price target on Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 26th. Stifel Nicolaus cut their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday, February 25th. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Finally, Citigroup cut their price objective on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Fifteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and an average target price of $90.05.

Insider Activity

In other news, 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 transaction, the insider now directly owns 117,760 shares of the company’s stock, valued at approximately $9,266,534.40. This represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric S. Yuan sold 75,531 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The disclosure for this sale can be found here. Insiders sold 369,271 shares of company stock worth $29,496,892 over the last quarter. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Up 2.7 %

ZM opened at $74.20 on Friday. The stock has a fifty day moving average of $80.44 and a 200-day moving average of $77.63. The firm has a market capitalization of $22.65 billion, a P/E ratio of 24.73, a PEG ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80.

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.