Insight Holdings Group LLC Buys 29,900 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Insight Holdings Group LLC raised its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 83.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,900 shares of the company's stock after purchasing an additional 29,900 shares during the period. Zoom Video Communications accounts for about 0.3% of Insight Holdings Group LLC's holdings, making the stock its 18th biggest position. Insight Holdings Group LLC's holdings in Zoom Video Communications were worth $5,378,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Zoom Video Communications during the fourth quarter worth $751,908,000. Altshuler Shaham Ltd raised its position in Zoom Video Communications by 285.9% during the 4th quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company's stock worth $167,813,000 after buying an additional 1,523,480 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Zoom Video Communications by 24.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock worth $521,123,000 after acquiring an additional 1,247,717 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Zoom Video Communications in the fourth quarter valued at about $99,471,000. Finally, Contrarius Group Holdings Ltd acquired a new position in shares of Zoom Video Communications during the fourth quarter worth about $72,854,000. Hedge funds and other institutional investors own 66.54% of the company's stock.

Insiders Place Their Bets

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of the 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 completion of the transaction, the director now directly owns 169,452 shares in the company, valued at $13,193,532.72. This represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Velchamy Sankarlingam sold 11,839 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49. Following the sale, the insider now owns 125,529 shares of the company's stock, valued at $9,026,790.39. This trade represents a 8.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 245,372 shares of company stock worth $19,127,800. 10.78% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $87.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Benchmark reaffirmed a "buy" rating and set a $97.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Scotiabank cut their price objective on 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. UBS Group decreased their target price on shares of 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. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Wednesday, March 19th. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $85.90.

Zoom Video Communications Price Performance

ZM stock traded down $0.01 on Wednesday, reaching $77.54. 1,893,780 shares of the company were exchanged, compared to its average volume of 3,041,917. The firm has a market capitalization of $23.67 billion, a PE ratio of 25.85, a PEG ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The stock's fifty day moving average price is $73.90 and its 200 day moving average price is $78.78.

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.