Swiss National Bank Decreases Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Swiss National Bank reduced its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 703,500 shares of the company’s stock after selling 39,800 shares during the quarter. Swiss National Bank owned 0.23% of Zoom Video Communications worth $57,413,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global X Japan Co. Ltd. boosted its position in Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after buying an additional 190 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 258 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in Zoom Video Communications during the 4th quarter valued at approximately $39,000. Finally, Truvestments Capital LLC purchased a new stake in Zoom Video Communications during the 3rd quarter worth approximately $37,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Velchamy Sankarlingam sold 10,817 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $851,189.73. Following the completion of the transaction, the insider now owns 117,760 shares in the company, valued at $9,266,534.40. This represents a 8.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 118,036 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $79.03, for a total transaction of $9,328,385.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 369,271 shares of company stock valued at $29,496,892. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Up 2.7 %

Zoom Video Communications stock opened at $74.20 on Friday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The firm has a market capitalization of $22.65 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 5.48 and a beta of 0.26. The firm has a 50-day moving average price of $80.44 and a two-hundred day moving average price of $77.67.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ZM. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $70.00 to $115.00 in a research report on Tuesday, November 26th. Hsbc Global Res raised shares of Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Bank of America increased their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Fifteen 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $90.05.

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.