Zoom Video Communications, Inc. (NASDAQ:ZM) Stake Increased by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust increased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 277.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 351 shares of the company’s stock after buying an additional 258 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Zoom Video Communications were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Adero Partners LLC lifted its position in Zoom Video Communications by 2.4% in the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock worth $450,000 after buying an additional 129 shares in the last quarter. Itau Unibanco Holding S.A. increased its stake in shares of Zoom Video Communications by 1.9% in the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock worth $497,000 after acquiring an additional 131 shares during the last quarter. MML Investors Services LLC raised its holdings in shares of 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 in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in Zoom Video Communications by 1.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock valued at $556,000 after purchasing an additional 145 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in Zoom Video Communications by 3.4% in the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after purchasing an additional 154 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 83,333 shares of the stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 3,618 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $307,312.92. Following the transaction, 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. Insiders have sold 382,242 shares of company stock worth $31,230,938 in the last ninety days. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Up 0.8 %

Shares of Zoom Video Communications stock opened at $74.31 on Tuesday. The company has a market cap of $22.78 billion and a price-to-earnings ratio of 24.77. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The company’s fifty day simple moving average is $82.08 and its 200-day simple moving average is $77.15.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus reduced their price target on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Benchmark restated a “buy” rating and set a $97.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. Finally, Piper Sandler increased their target price on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Fifteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications has an average rating of “Hold” and a consensus target price of $90.05.

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.