Global X Japan Co. Ltd. Boosts Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Global X Japan Co. Ltd. raised its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 127.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 339 shares of the company’s stock after buying an additional 190 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Zoom Video Communications were worth $28,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ZM. FMR LLC lifted its stake in shares of Zoom Video Communications by 23.8% during the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after buying an additional 2,395,396 shares during the period. State Street Corp raised its holdings in Zoom Video Communications by 2.3% in the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after acquiring an additional 134,559 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Zoom Video Communications by 4.4% during the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock worth $382,188,000 after purchasing an additional 233,241 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Zoom Video Communications by 4.2% during the third quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock worth $320,177,000 after purchasing an additional 184,518 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in shares of Zoom Video Communications by 9.8% in the third quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company’s stock valued at $101,032,000 after purchasing an additional 128,800 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Trading Down 0.7 %

Shares of ZM stock opened at $86.12 on Friday. The firm has a fifty day simple moving average of $83.11 and a 200-day simple moving average of $74.14. The company has a market capitalization of $26.39 billion and a PE ratio of 28.71. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

Analyst Ratings Changes

ZM has been the topic of several recent analyst reports. JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Barclays boosted their target price on shares of Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research note on Friday, November 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Friday, January 10th. Sixteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $89.10.

Insiders Place Their Bets

In related news, CAO Shane Crehan sold 1,551 shares of Zoom Video Communications stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the sale, the chief accounting officer now owns 3,251 shares in the company, valued at approximately $276,139.94. The trade was a 32.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric S. Yuan sold 83,332 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. Insiders have sold 382,242 shares of company stock worth $31,230,938 in the last quarter. 10.78% of the stock is owned by corporate insiders.

About Zoom Video Communications

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.