Handelsbanken Fonder AB Buys 88,986 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Handelsbanken Fonder AB grew its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 53.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 256,842 shares of the company’s stock after acquiring an additional 88,986 shares during the quarter. Handelsbanken Fonder AB’s holdings in Zoom Video Communications were worth $20,961,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ZM. Creative Planning lifted its holdings in shares of Zoom Video Communications by 18.5% during the third quarter. Creative Planning now owns 34,522 shares of the company’s stock valued at $2,408,000 after purchasing an additional 5,396 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Zoom Video Communications by 0.7% during the third quarter. Raymond James & Associates now owns 53,089 shares of the company’s stock valued at $3,702,000 after purchasing an additional 383 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Zoom Video Communications by 12.7% during the third quarter. Signaturefd LLC now owns 3,443 shares of the company’s stock valued at $240,000 after purchasing an additional 387 shares in the last quarter. Courier Capital LLC bought a new position in shares of Zoom Video Communications during the third quarter valued at $251,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Zoom Video Communications by 6,614.6% during the third quarter. International Assets Investment Management LLC now owns 499,966 shares of the company’s stock valued at $34,868,000 after purchasing an additional 492,520 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley upped their price objective on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Bank of America upped their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Sixteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $89.48.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 83,333 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total transaction of $6,958,305.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 3,618 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the completion of the sale, the insider now directly owns 107,826 shares of the company’s stock, valued at $9,158,740.44. The trade was a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 382,242 shares of company stock valued at $31,230,938. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Down 1.1 %

NASDAQ ZM opened at $82.50 on Friday. The firm has a market cap of $25.29 billion and a price-to-earnings ratio of 27.50. The business has a 50-day moving average price of $83.21 and a 200-day moving average price of $75.90. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

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.