Invesco Ltd. Increases Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Invesco Ltd. lifted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 7.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 649,304 shares of the company's stock after purchasing an additional 46,666 shares during the quarter. Invesco Ltd. owned 0.21% of Zoom Video Communications worth $52,990,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 11,839 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total transaction of $851,342.49. Following the transaction, the insider now owns 125,529 shares of the company's stock, valued at approximately $9,026,790.39. This trade represents a 8.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction on Monday, March 24th. The shares were sold at an average price of $77.86, for a total value of $192,703.50. Following the completion of the transaction, the director now 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 disclosure for this sale can be found here. Insiders sold a total of 242,897 shares of company stock valued at $18,941,111 in the last three months. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Trading Down 1.5 %

Zoom Video Communications stock traded down $1.05 during midday trading on Monday, hitting $70.44. The stock had a trading volume of 124,652 shares, compared to its average volume of 3,073,416. The company has a market capitalization of $21.50 billion, a PE ratio of 23.53, a P/E/G ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The firm's fifty day moving average is $75.34 and its two-hundred day moving average is $78.60.

Analysts Set New Price Targets

Several brokerages have weighed in on ZM. Mizuho cut their price objective on shares of Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Benchmark reiterated a "buy" rating and issued a $97.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. 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 report on Tuesday, February 25th. Needham & Company LLC reissued a "hold" rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $95.00 price target on shares of Zoom Video Communications in a research 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of "Hold" and an average target price of $86.62.

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.