Cerity Partners LLC Buys 19,860 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Cerity Partners LLC grew its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 21.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 112,324 shares of the company's stock after purchasing an additional 19,860 shares during the quarter. Cerity Partners LLC's holdings in Zoom Video Communications were worth $9,122,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. FMR LLC lifted its stake in Zoom Video Communications by 2.3% in the fourth quarter. FMR LLC now owns 12,727,532 shares of the company's stock valued at $1,038,694,000 after buying an additional 282,645 shares during the period. Norges Bank acquired a new position in shares of Zoom Video Communications during the 4th quarter valued at $751,908,000. Geode Capital Management LLC boosted its stake in Zoom Video Communications by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock worth $377,429,000 after acquiring an additional 28,725 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Zoom Video Communications by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,367,055 shares of the company's stock worth $111,565,000 after purchasing an additional 69,612 shares during the period. Finally, California Public Employees Retirement System increased its stake in Zoom Video Communications by 0.3% in the fourth quarter. California Public Employees Retirement System now owns 1,256,017 shares of the company's stock valued at $102,504,000 after purchasing an additional 3,492 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Trading Up 0.3 %

Shares of ZM stock traded up $0.18 on Wednesday, hitting $72.58. 357,980 shares of the stock were exchanged, compared to its average volume of 3,082,155. The firm's 50 day moving average is $76.20 and its two-hundred day moving average is $78.47. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The firm has a market capitalization of $22.16 billion, a PE ratio of 24.19, a P/E/G ratio of 5.48 and a beta of 0.67.

Wall Street Analyst Weigh In

ZM has been the topic of a number of research reports. UBS Group lowered their target price on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. Barclays dropped their price objective on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Scotiabank decreased their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating for the company in a research report on Monday, March 17th. Jefferies Financial Group raised shares of Zoom Video Communications from a "hold" rating to a "buy" rating and raised their price target for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $87.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $87.71.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 75,531 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction that occurred 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 in the company, valued at $13,193,532.72. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 161,338 shares of company stock worth $13,045,903 over the last quarter. 10.78% of the stock is currently owned by company insiders.

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.