Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by Xponance Inc.

Xponance Inc. lifted its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 18.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,577 shares of the company’s stock after purchasing an additional 4,372 shares during the period. Xponance Inc.’s holdings in Zoom Video Communications were worth $2,251,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ZM. HighTower Advisors LLC increased its holdings in Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after purchasing an additional 52,039 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Zoom Video Communications in the fourth quarter worth $1,072,000. Eagle Asset Management Inc. acquired a new stake in Zoom Video Communications in the third quarter valued at $62,038,000. State Street Corp boosted its stake in Zoom Video Communications by 2.3% during the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after acquiring an additional 134,559 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Zoom Video Communications by 202.8% during the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock worth $64,054,000 after acquiring an additional 521,778 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ZM. Rosenblatt Securities reaffirmed a “buy” rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday. Piper Sandler increased their target price on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Benchmark reiterated a “buy” rating and issued a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Mizuho raised their price objective on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Fifteen investment 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $89.33.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $75.97 on Friday. The firm has a market cap of $23.19 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The firm’s 50 day moving average price is $79.98 and its two-hundred day moving average price is $77.82.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 118,036 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $79.03, for a total value of $9,328,385.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Shane Crehan sold 1,412 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $111,110.28. Following the sale, the chief accounting officer now owns 5,404 shares in the company, valued at $425,240.76. This represents a 20.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 369,271 shares of company stock valued at $29,496,892 in the last three months. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Company 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.