TD Waterhouse Canada Inc. Acquires 3,304 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

TD Waterhouse Canada Inc. grew its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 1,065.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,614 shares of the company's stock after purchasing an additional 3,304 shares during the period. TD Waterhouse Canada Inc.'s holdings in Zoom Video Communications were worth $295,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of ZM. Global X Japan Co. Ltd. increased its stake in shares of Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after purchasing an additional 190 shares during the last quarter. Avior Wealth Management LLC grew its holdings in Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 265 shares during the period. Parkside Financial Bank & Trust increased its position in Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after buying an additional 258 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Zoom Video Communications in the fourth quarter valued at $39,000. Finally, MRP Capital Investments LLC lifted its position in shares of Zoom Video Communications by 500.0% during the 4th quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock valued at $49,000 after buying an additional 500 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Performance

ZM traded down $0.01 during midday trading on Wednesday, hitting $77.54. The stock had a trading volume of 1,893,780 shares, compared to its average volume of 3,039,933. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The business has a fifty day moving average of $73.90 and a 200 day moving average of $78.78. The company has a market cap of $23.67 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ZM shares. Royal Bank of Canada restated an "outperform" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Benchmark reissued a "buy" rating and issued a $97.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Mizuho cut their price objective on shares of Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Barclays lowered their target price on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Finally, UBS Group cut their price target on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Zoom Video Communications has a consensus rating of "Hold" and a consensus price target of $85.90.

Insider Transactions at Zoom Video Communications

In other news, Director Santiago Subotovsky sold 2,475 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 169,452 shares in the company, valued at approximately $13,193,532.72. This trade represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 83,332 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 245,372 shares of company stock worth $19,127,800. 10.78% of the stock is currently owned by insiders.

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.