Rhumbline Advisers Acquires 2,251 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Rhumbline Advisers increased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 313,425 shares of the company’s stock after purchasing an additional 2,251 shares during the quarter. Rhumbline Advisers’ holdings in Zoom Video Communications were worth $25,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Global X Japan Co. Ltd. grew its stake in shares of Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after purchasing an additional 190 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Zoom Video Communications in the fourth quarter worth about $39,000. Truvestments Capital LLC purchased a new stake in Zoom Video Communications in the third quarter worth about $37,000. Finally, Allworth Financial LP lifted its holdings in Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after buying an additional 180 shares during the period. 66.54% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Velchamy Sankarlingam sold 3,618 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $307,312.92. Following the completion of the sale, the insider now owns 107,826 shares of the company’s stock, valued at $9,158,740.44. The trade was a 3.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eric S. Yuan sold 83,332 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 382,242 shares of company stock valued at $31,230,938. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Down 0.0 %

NASDAQ:ZM opened at $85.17 on Thursday. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The company has a market cap of $26.10 billion and a PE ratio of 28.39. The company has a 50 day simple moving average of $83.31 and a two-hundred day simple moving average of $75.78.

Analyst Ratings Changes

ZM has been the subject of several research analyst reports. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $70.00 to $85.00 in a report on Tuesday, January 7th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Friday, January 10th. Citigroup lowered their price objective on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday. Rosenblatt Securities restated a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a report on Friday, November 22nd. Finally, Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $70.00 to $115.00 in a report on Tuesday, November 26th. Sixteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.48.

About Zoom Video Communications

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.