Meiji Yasuda Asset Management Co Ltd. Purchases 1,860 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Meiji Yasuda Asset Management Co Ltd. boosted its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 54.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,273 shares of the company’s stock after acquiring an additional 1,860 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Zoom Video Communications were worth $430,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC lifted its stake in shares of Zoom Video Communications by 263.9% during the 3rd quarter. Cerity Partners LLC now owns 92,464 shares of the company’s stock valued at $6,448,000 after buying an additional 67,054 shares in the last quarter. Algert Global LLC raised its holdings in Zoom Video Communications by 10.7% during the 3rd quarter. Algert Global LLC now owns 9,841 shares of the company’s stock valued at $686,000 after acquiring an additional 951 shares during the period. Swedbank AB lifted its position in shares of Zoom Video Communications by 6.4% during the third quarter. Swedbank AB now owns 41,896 shares of the company’s stock worth $2,922,000 after acquiring an additional 2,518 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Zoom Video Communications by 7.8% in the third quarter. Daiwa Securities Group Inc. now owns 22,982 shares of the company’s stock valued at $1,603,000 after purchasing an additional 1,669 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in Zoom Video Communications during the 3rd quarter valued at about $37,000. 66.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 owns 5,404 shares in the company, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 371,746 shares of company stock worth $29,689,595. 10.78% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Wednesday, March 19th. Stifel Nicolaus reduced their target price on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. UBS Group decreased their target price on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Barclays dropped their price target 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. Finally, Citigroup decreased their price objective on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $89.33.

Zoom Video Communications Stock Down 1.3 %

Shares of Zoom Video Communications stock opened at $76.78 on Friday. The business has a 50 day moving average of $79.84 and a 200 day moving average of $78.10. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The company has a market cap of $23.44 billion, a PE ratio of 25.59, a P/E/G ratio of 5.48 and a beta of 0.26.

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.