New York State Teachers Retirement System Has $1.97 Million Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

New York State Teachers Retirement System lifted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 5.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 24,127 shares of the company’s stock after purchasing an additional 1,206 shares during the quarter. New York State Teachers Retirement System’s holdings in Zoom Video Communications were worth $1,969,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Global X Japan Co. Ltd. grew its holdings in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after buying an additional 190 shares in the last quarter. Avior Wealth Management LLC boosted its position in Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $39,000. Truvestments Capital LLC acquired a new stake in shares of Zoom Video Communications in the third quarter valued at approximately $37,000. Finally, Allworth Financial LP lifted its position in shares of Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ZM shares. The Goldman Sachs Group increased their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their price target for the company from $70.00 to $115.00 in a research note on Tuesday, November 26th. Piper Sandler upped their price objective on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Stifel Nicolaus increased their price objective on Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley boosted their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.48.

Insiders Place Their Bets

In other Zoom Video Communications news, COO Aparna Bawa sold 9,317 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the sale, the chief operating officer now owns 14,053 shares of the company’s stock, valued at $1,105,830.57. This trade represents a 39.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eric S. Yuan sold 33,751 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $78.69, for a total transaction of $2,655,866.19. Following the completion of the transaction, the chief executive officer now directly owns 34,703 shares of the company’s stock, valued at approximately $2,730,779.07. This represents a 49.30 % decrease in their position. 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 quarter. 10.78% of the stock is owned by company insiders.

Zoom Video Communications Stock Down 1.1 %

ZM opened at $82.50 on Friday. The firm has a 50-day moving average price of $83.18 and a 200-day moving average price of $76.09. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market capitalization of $25.29 billion and a price-to-earnings ratio of 27.50.

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.