FORA Capital LLC Raises Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

FORA Capital LLC lifted its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 120.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,947 shares of the company's stock after acquiring an additional 22,393 shares during the quarter. FORA Capital LLC's holdings in Zoom Video Communications were worth $3,342,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC grew 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 purchasing an additional 282,645 shares during the last quarter. Norges Bank purchased a new position in Zoom Video Communications in the fourth quarter valued at about $751,908,000. AQR Capital Management LLC grew its stake in Zoom Video Communications by 5.2% in the fourth quarter. AQR Capital Management LLC now owns 7,538,744 shares of the company's stock valued at $615,237,000 after purchasing an additional 373,509 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Zoom Video Communications by 24.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock valued at $521,123,000 after purchasing an additional 1,247,717 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Zoom Video Communications by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock valued at $377,429,000 after purchasing an additional 28,725 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

Zoom Video Communications Price Performance

NASDAQ:ZM traded up $1.06 during trading hours on Friday, reaching $81.31. The company had a trading volume of 1,854,341 shares, compared to its average volume of 3,026,068. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The firm has a market cap of $24.82 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. The business's 50 day moving average price is $74.34 and its 200-day moving average price is $79.29.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays dropped their price target on 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. Royal Bank of Canada restated an "outperform" rating and set a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Stifel Nicolaus dropped their price target on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a research note on Tuesday, February 25th. Benchmark restated a "buy" rating and set a $97.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company dropped their price target on Zoom Video Communications from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $85.90.

Insider Buying and Selling at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 75,531 shares of the company's stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $78.82, for a total value of $195,079.50. Following the transaction, the director now directly owns 157,824 shares of the company's stock, valued at approximately $12,439,687.68. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,515 shares of company stock valued at $12,132,994. 11.51% of the stock is 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.