Fjarde AP Fonden Fourth Swedish National Pension Fund Grows Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 15.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 80,700 shares of the company’s stock after purchasing an additional 10,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Zoom Video Communications were worth $6,586,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Camelot Portfolios LLC increased its holdings in shares of Zoom Video Communications by 12.9% in the fourth quarter. Camelot Portfolios LLC now owns 8,690 shares of the company’s stock valued at $709,000 after purchasing an additional 990 shares during the last quarter. Leuthold Group LLC acquired a new stake in shares of Zoom Video Communications in the fourth quarter valued at approximately $448,000. VisionPoint Advisory Group LLC acquired a new stake in shares of Zoom Video Communications in the fourth quarter valued at approximately $63,000. Prakash Investment Advisors LLC acquired a new stake in Zoom Video Communications during the fourth quarter worth $980,000. Finally, Handelsbanken Fonder AB increased its stake in Zoom Video Communications by 53.0% during the fourth quarter. Handelsbanken Fonder AB now owns 256,842 shares of the company’s stock worth $20,961,000 after acquiring an additional 88,986 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ZM. The Goldman Sachs Group raised their target price on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Piper Sandler raised their target price on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Sanford C. Bernstein raised their target price on Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 26th. Cantor Fitzgerald began coverage on Zoom Video Communications in a research note on Friday, January 17th. They set a “neutral” rating and a $87.00 target price for the company. Finally, Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. Sixteen 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’s stock. According to MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and an average target price of $89.48.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,618 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $307,312.92. Following the completion of the sale, the insider now directly owns 107,826 shares of the company’s stock, valued at $9,158,740.44. This represents a 3.25 % decrease in their position. 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 83,333 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total value of $6,958,305.50. The disclosure for this sale can be found here. Insiders sold a total of 382,242 shares of company stock valued at $31,230,938 in the last three months. 10.78% of the stock is currently owned by company insiders.

Zoom Video Communications Price Performance

ZM opened at $81.10 on Tuesday. The business has a fifty day moving average price of $83.13 and a 200 day moving average price of $76.55. The stock has a market capitalization of $24.86 billion and a price-to-earnings ratio of 27.03. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings data on Monday, February 24th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.53). Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. On average, research analysts anticipate that Zoom Video Communications, Inc. will post 2.93 earnings per share for the current year.

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.