Asset Management One Co. Ltd. Acquires 7,518 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Asset Management One Co. Ltd. grew its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,872 shares of the company’s stock after acquiring an additional 7,518 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Zoom Video Communications were worth $7,868,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. FMR LLC increased its stake in Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after purchasing an additional 2,395,396 shares during the period. Eagle Asset Management Inc. purchased a new stake in Zoom Video Communications in the third quarter worth $62,038,000. Assenagon Asset Management S.A. grew its stake in Zoom Video Communications by 126.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock worth $102,119,000 after purchasing an additional 699,625 shares during the period. Nordea Investment Management AB boosted its holdings 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 worth $64,054,000 after acquiring an additional 521,778 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings 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 acquiring an additional 492,520 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Down 0.1 %

Shares of ZM stock opened at $85.10 on Tuesday. The stock has a market cap of $26.08 billion and a PE ratio of 28.37. The business has a 50-day simple moving average of $83.29 and a 200-day simple moving average of $75.41. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Wall Street Analyst Weigh In

ZM has been the topic of a number of research analyst reports. Sanford C. Bernstein upped their price target on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a report on Tuesday, November 26th. The Goldman Sachs Group increased their target price on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Bank of America increased their price target on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Mizuho raised their price objective on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Finally, Stifel Nicolaus raised their price objective on Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a research note 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.10.

Insider Activity at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,412 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $111,110.28. Following the completion of the sale, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at approximately $425,240.76. This trade represents a 20.72 % 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, CEO Eric S. Yuan sold 83,333 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total value of $6,958,305.50. The disclosure for this sale can be found here. Insiders sold a total of 382,242 shares of company stock worth $31,230,938 in the last 90 days. Corporate insiders own 10.78% of the company’s stock.

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.