Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,040 shares of the company’s stock after purchasing an additional 168 shares during the period. PNC Financial Services Group Inc.’s holdings in Zoom Video Communications were worth $330,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ZM. Quest Partners LLC boosted its stake in Zoom Video Communications by 28.2% in the 3rd quarter. Quest Partners LLC now owns 9,214 shares of the company’s stock worth $643,000 after purchasing an additional 2,029 shares in the last quarter. Banque Cantonale Vaudoise raised its position in Zoom Video Communications by 22.2% during the 3rd quarter. Banque Cantonale Vaudoise now owns 5,253 shares of the company’s stock worth $366,000 after buying an additional 956 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Zoom Video Communications during the 3rd quarter worth approximately $443,000. Primecap Management Co. CA raised its position in Zoom Video Communications by 0.7% during the 3rd quarter. Primecap Management Co. CA now owns 1,289,150 shares of the company’s stock worth $89,905,000 after buying an additional 8,625 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Zoom Video Communications by 6.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,297,443 shares of the company’s stock worth $90,484,000 after buying an additional 78,940 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Trading Down 0.1 %

Shares of ZM stock opened at $75.97 on Friday. The company’s 50-day moving average price is $79.98 and its 200-day moving average price is $77.82. The stock has a market cap of $23.19 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Piper Sandler raised their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Mizuho lifted their target price on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Wells Fargo & Company raised shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Benchmark reaffirmed a “buy” rating and set a $97.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Scotiabank cut their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating for the company in a report on Monday, March 17th. Fifteen investment 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $89.33.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 33,751 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total transaction of $2,655,866.19. Following the sale, the chief executive officer now directly owns 34,703 shares in the company, valued at $2,730,779.07. This represents a 49.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Shane Crehan sold 1,412 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 transaction of $111,110.28. Following the sale, the chief accounting officer now owns 5,404 shares in the company, valued at $425,240.76. This trade represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 369,271 shares of company stock worth $29,496,892. Company insiders own 10.78% of the company’s stock.

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.