Avanza Fonder AB Takes $1.56 Million Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Avanza Fonder AB purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,150 shares of the company’s stock, valued at approximately $1,563,000.

Other hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. boosted its stake in Zoom Video Communications by 1.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock worth $497,000 after purchasing an additional 131 shares during the last quarter. MML Investors Services LLC boosted its position in Zoom Video Communications by 1.4% during the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after acquiring an additional 132 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock valued at $556,000 after acquiring an additional 145 shares in the last quarter. MetLife Investment Management LLC raised its holdings in Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after acquiring an additional 154 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Zoom Video Communications by 27.1% in the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after purchasing an additional 164 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insider Activity

In related news, CAO Shane Crehan sold 1,412 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the sale, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at $425,240.76. This trade represents a 20.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Aparna Bawa sold 9,317 shares of Zoom Video Communications stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the transaction, the chief operating officer now owns 14,053 shares of the company’s stock, valued at $1,105,830.57. This represents a 39.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 525,703 shares of company stock worth $41,265,285. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Down 1.7 %

Shares of ZM stock opened at $78.07 on Friday. The firm has a 50 day moving average of $82.98 and a two-hundred day moving average of $71.63. The stock has a market capitalization of $23.93 billion, a PE ratio of 26.02, a P/E/G ratio of 4.97 and a beta of -0.01. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80.

Analyst Ratings Changes

Several equities research analysts recently commented on ZM shares. The Goldman Sachs Group increased their price target on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Mizuho raised their target price on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Rosenblatt Securities reissued a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research report on Friday, November 22nd. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Finally, Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Sixteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $89.10.

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.