Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co increased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 22.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,271 shares of the company’s stock after acquiring an additional 5,026 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Zoom Video Communications were worth $2,226,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in shares of Zoom Video Communications in the 4th quarter worth approximately $99,471,000. Contrarius Group Holdings Ltd purchased a new stake in Zoom Video Communications during the fourth quarter worth $72,854,000. Assenagon Asset Management S.A. increased its position in shares of Zoom Video Communications by 126.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock valued at $102,119,000 after buying an additional 699,625 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Zoom Video Communications by 202.8% during the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock worth $64,054,000 after buying an additional 521,778 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Zoom Video Communications in the 4th quarter worth about $26,344,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ZM. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a report on Wednesday, March 19th. UBS Group cut their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Citigroup lowered their target price on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $89.33.

Zoom Video Communications Stock Down 2.5 %

Shares of NASDAQ ZM opened at $74.84 on Friday. The stock has a market capitalization of $22.84 billion, a PE ratio of 24.95, a P/E/G ratio of 5.48 and a beta of 0.26. The firm has a fifty day moving average of $79.78 and a 200-day moving average of $78.23. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Insider Buying and Selling at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 10,817 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $851,189.73. Following the transaction, the insider now owns 117,760 shares of the company’s stock, valued at approximately $9,266,534.40. This trade represents a 8.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Santiago Subotovsky sold 2,475 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $77.86, for a total transaction of $192,703.50. Following the sale, the director now directly owns 169,452 shares of the company’s stock, valued at approximately $13,193,532.72. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 371,746 shares of company stock valued at $29,689,595. Company insiders own 10.78% of the company’s stock.

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.