Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Purchased by Altshuler Shaham Ltd

Altshuler Shaham Ltd raised its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 285.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,056,277 shares of the company's stock after acquiring an additional 1,523,480 shares during the period. Zoom Video Communications makes up about 5.7% of Altshuler Shaham Ltd's portfolio, making the stock its 7th biggest position. Altshuler Shaham Ltd owned about 0.67% of Zoom Video Communications worth $167,813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its position 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 period. Norges Bank purchased a new position in Zoom Video Communications during the fourth quarter worth about $751,908,000. Geode Capital Management LLC increased its position in shares of Zoom Video Communications by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock valued at $377,429,000 after acquiring an additional 28,725 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Zoom Video Communications by 9.7% in the 4th quarter. Renaissance Technologies LLC now owns 4,304,848 shares of the company's stock valued at $351,319,000 after acquiring an additional 380,900 shares during the period. Finally, FIL Ltd boosted its position in shares of Zoom Video Communications by 3.7% during the 4th quarter. FIL Ltd now owns 3,012,007 shares of the company's stock worth $245,810,000 after purchasing an additional 108,075 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zoom Video Communications

In related news, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $77.86, for a total transaction of $192,703.50. Following the transaction, the director now directly owns 169,452 shares of the company's stock, valued at $13,193,532.72. The trade was a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of the stock in a transaction that occurred 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. Insiders have sold a total of 242,897 shares of company stock worth $18,941,111 over the last ninety days. 10.78% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Citigroup cut their price objective on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. Barclays dropped their price objective on 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. Benchmark reaffirmed a "buy" rating and issued a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Stifel Nicolaus cut their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. Finally, UBS Group dropped 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. Fifteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Zoom Video Communications has a consensus rating of "Hold" and a consensus target price of $86.14.

Zoom Video Communications Stock Performance

Shares of ZM stock traded up $1.28 on Tuesday, hitting $71.77. The stock had a trading volume of 518,839 shares, compared to its average volume of 3,067,988. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The stock's 50 day moving average is $75.09 and its 200-day moving average is $78.62. The firm has a market capitalization of $21.91 billion, a price-to-earnings ratio of 23.94, a P/E/G ratio of 5.48 and a beta of 0.67.

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.