Yelin Lapidot Holdings Management Ltd. Invests $1.09 Million in Zoom Video Communications, Inc. (NASDAQ:ZM)

Yelin Lapidot Holdings Management Ltd. purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 4th quarter, Holdings Channel.com reports. The firm purchased 13,300 shares of the company’s stock, valued at approximately $1,085,000.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Zoom Video Communications by 23.8% in the 3rd 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 in the last quarter. State Street Corp boosted its position in Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after buying an additional 134,559 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Zoom Video Communications by 4.4% during the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock worth $382,188,000 after buying an additional 233,241 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Zoom Video Communications by 4.2% during the third quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock worth $320,177,000 after buying an additional 184,518 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of Zoom Video Communications by 9.8% in the 3rd quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company’s stock valued at $101,032,000 after acquiring an additional 128,800 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Scotiabank raised Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Piper Sandler raised their price objective on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Bank of America lifted their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. UBS Group decreased their price target 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. Finally, JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $90.05.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $72.88 on Friday. The stock has a market capitalization of $22.34 billion and a price-to-earnings ratio of 24.29. 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 price is $82.54 and its two-hundred day moving average price is $76.63.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,618 shares of the firm’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 value of $307,312.92. Following the completion of the sale, the insider now owns 107,826 shares of the company’s stock, valued at approximately $9,158,740.44. This trade represents a 3.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 83,332 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The disclosure for this sale can be found here. Insiders have sold 382,242 shares of company stock worth $31,230,938 in the last quarter. 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.