Man Group plc raised its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 249.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 341,005 shares of the company's stock after buying an additional 243,326 shares during the quarter. Man Group plc owned 0.11% of Zoom Video Communications worth $27,829,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of ZM. Nissay Asset Management Corp Japan ADV increased its stake in Zoom Video Communications by 4.5% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 53,246 shares of the company's stock valued at $4,463,000 after purchasing an additional 2,296 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in Zoom Video Communications by 2.6% in the 4th quarter. Nuveen Asset Management LLC now owns 516,678 shares of the company's stock worth $42,166,000 after purchasing an additional 12,927 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Zoom Video Communications during the 4th quarter worth approximately $816,000. Leigh Baldwin & CO. LLC bought a new stake in Zoom Video Communications during the fourth quarter valued at $1,917,000. Finally, Junto Capital Management LP bought a new position in Zoom Video Communications in the 4th quarter worth about $36,580,000. Institutional investors and hedge funds own 66.54% of the company's stock.
Insider Buying and Selling
In other news, CEO Eric S. Yuan sold 75,531 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 11,839 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the completion of the transaction, the insider now directly owns 125,529 shares of the company's stock, valued at approximately $9,026,790.39. This represents a 8.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,515 shares of company stock worth $12,132,994 in the last 90 days. 11.51% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several brokerages have issued reports on ZM. UBS Group dropped their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Mizuho decreased their price objective on Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Citigroup decreased their price objective on shares of Zoom Video Communications from $85.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday, May 15th. Scotiabank boosted their target price on Zoom Video Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a research note on Friday, May 16th. Finally, Morgan Stanley lowered their price objective on shares of Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $86.33.
Get Our Latest Stock Report on Zoom Video Communications
Zoom Video Communications Stock Up 0.5%
ZM stock traded up $0.45 during trading on Wednesday, hitting $83.55. The company had a trading volume of 1,278,032 shares, compared to its average volume of 2,987,137. The company has a 50 day simple moving average of $75.62 and a 200-day simple moving average of $79.69. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The firm has a market capitalization of $25.50 billion, a P/E ratio of 27.84, a PEG ratio of 5.48 and a beta of 0.79.
Zoom Video Communications Profile
(
Free Report)
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.
See Also
Before you consider Zoom Video Communications, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Zoom Video Communications wasn't on the list.
While Zoom Video Communications currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
