Nuveen Asset Management LLC Raises Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Nuveen Asset Management LLC raised its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 516,678 shares of the company's stock after buying an additional 12,927 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.17% of Zoom Video Communications worth $42,166,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Global X Japan Co. Ltd. raised its stake in Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after acquiring an additional 190 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after purchasing an additional 258 shares during the last quarter. Avior Wealth Management LLC raised its position in Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after buying an additional 265 shares during the last quarter. Colonial Trust Co SC purchased a new position in Zoom Video Communications during the 4th quarter worth $32,000. Finally, Geneos Wealth Management Inc. purchased a new position in Zoom Video Communications during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 66.54% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Stifel Nicolaus cut their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. Cantor Fitzgerald reissued a "neutral" rating and set a $87.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Morgan Stanley cut their target price on Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Needham & Company LLC reissued a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Finally, Citigroup cut their price objective on Zoom Video Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a research report on Thursday, May 15th. Fifteen investment 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 company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $86.33.

Insider Transactions at Zoom Video Communications

In related news, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $78.82, for a total transaction of $195,079.50. Following the completion of the sale, the director now directly owns 157,824 shares of the company's stock, valued at approximately $12,439,687.68. This represents a 1.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Aparna Bawa sold 16,099 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total value of $1,168,626.41. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares of the company's stock, valued at $143,583.02. The trade was a 89.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,515 shares of company stock worth $12,132,994 over the last ninety days. 11.51% of the stock is currently owned by corporate insiders.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $83.31 on Tuesday. The company has a market capitalization of $25.43 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The stock has a fifty day moving average of $75.40 and a two-hundred day moving average of $79.66.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.