Zurcher Kantonalbank Zurich Cantonalbank Purchases 44,203 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 59.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 118,107 shares of the company’s stock after buying an additional 44,203 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Zoom Video Communications were worth $8,237,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in shares of Zoom Video Communications by 96.7% during the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after purchasing an additional 2,579,720 shares during the period. AQR Capital Management LLC boosted its stake in shares of Zoom Video Communications by 78.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after buying an additional 2,520,987 shares during the last quarter. FMR LLC boosted its position in Zoom Video Communications by 23.8% during the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after purchasing an additional 2,395,396 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Zoom Video Communications by 60.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after buying an additional 1,855,679 shares during the last quarter. Finally, Eagle Asset Management Inc. bought a new position in shares of Zoom Video Communications in the 3rd quarter valued at about $62,038,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of ZM opened at $82.69 on Monday. The firm has a market cap of $25.45 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 5.51 and a beta of -0.05. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The business’s 50 day moving average price is $75.22 and its two-hundred day moving average price is $66.33.

Analyst Ratings Changes

Several brokerages have recently commented on ZM. Bank of America lifted their target price on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Wedbush began coverage on Zoom Video Communications in a report on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price on the stock. Hsbc Global Res raised shares of Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Finally, Robert W. Baird decreased their target price on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and an average price target of $85.19.

Insider Activity

In related news, CAO Shane Crehan sold 1,550 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the transaction, the chief accounting officer now owns 1,463 shares of the company’s stock, valued at $97,830.81. The trade was a 51.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Aparna Bawa sold 831 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. The trade was a 29.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 367,108 shares of company stock worth $26,796,191. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Profile

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.