Generali Asset Management SPA SGR Invests $3.06 Million in Zoom Video Communications, Inc. (NASDAQ:ZM)

Generali Asset Management SPA SGR purchased a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 37,500 shares of the company’s stock, valued at approximately $3,060,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ZM. FMR LLC increased its stake in shares of Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after purchasing an additional 2,395,396 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Zoom Video Communications in the 4th quarter worth $99,471,000. Eagle Asset Management Inc. purchased a new stake in shares of Zoom Video Communications in the 3rd quarter worth $62,038,000. Assenagon Asset Management S.A. increased its stake in shares of Zoom Video Communications by 126.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock worth $102,119,000 after purchasing an additional 699,625 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Zoom Video Communications by 202.8% in the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock worth $64,054,000 after purchasing an additional 521,778 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZM has been the subject of several analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Wednesday. Sanford C. Bernstein lifted their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research note on Tuesday, November 26th. Bank of America lifted their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Finally, The Goldman Sachs Group raised their target price on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Fifteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $89.33.

Zoom Video Communications Trading Up 1.1 %

Shares of ZM opened at $76.26 on Thursday. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market cap of $23.28 billion, a P/E ratio of 25.42, a P/E/G ratio of 5.48 and a beta of 0.26. The company’s fifty day simple moving average is $80.13 and its 200-day simple moving average is $77.79.

Insider Activity

In other news, COO Aparna Bawa sold 9,317 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the sale, the chief operating officer now directly owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. The trade was a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Shane Crehan sold 1,412 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $111,110.28. Following the sale, the chief accounting officer now directly owns 5,404 shares of the company’s stock, valued at $425,240.76. This represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 369,271 shares of company stock valued at $29,496,892. 10.78% of the stock is currently owned by company insiders.

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.