Plato Investment Management Ltd Boosts Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Plato Investment Management Ltd lifted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 19.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,020 shares of the company’s stock after purchasing an additional 1,631 shares during the quarter. Plato Investment Management Ltd’s holdings in Zoom Video Communications were worth $821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the business. Bellecapital International Ltd. raised its position in Zoom Video Communications by 12.8% in the 4th quarter. Bellecapital International Ltd. now owns 26,292 shares of the company’s stock worth $2,146,000 after buying an additional 2,984 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Zoom Video Communications in the 4th quarter worth about $2,040,000. Jones Financial Companies Lllp raised its position in Zoom Video Communications by 36.1% in the 4th quarter. Jones Financial Companies Lllp now owns 8,704 shares of the company’s stock worth $710,000 after buying an additional 2,307 shares during the last quarter. Metis Global Partners LLC raised its position in Zoom Video Communications by 6.3% in the 4th quarter. Metis Global Partners LLC now owns 4,300 shares of the company’s stock worth $351,000 after buying an additional 254 shares during the last quarter. Finally, US Bancorp DE raised its position in Zoom Video Communications by 17.2% in the 4th quarter. US Bancorp DE now owns 3,495 shares of the company’s stock worth $285,000 after buying an additional 512 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barclays decreased their target price on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $70.00 to $115.00 in a research report on Tuesday, November 26th. The Goldman Sachs Group boosted their target price on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Piper Sandler boosted their price target on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen research 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 company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $90.05.

Insiders Place Their Bets

In other Zoom Video Communications news, CAO Shane Crehan sold 1,551 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the transaction, the chief accounting officer now directly owns 3,251 shares in the company, valued at $276,139.94. This represents a 32.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The disclosure for this sale can be found here. Insiders sold 382,242 shares of company stock worth $31,230,938 in the last three months. 10.78% of the stock is owned by company insiders.

Zoom Video Communications Trading Up 0.8 %

Shares of NASDAQ:ZM opened at $74.31 on Tuesday. The stock has a 50 day moving average of $82.08 and a 200 day moving average of $77.15. The company has a market cap of $22.78 billion and a PE ratio of 24.77. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-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.