49,767 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Purchased by RWC Asset Management LLP

RWC Asset Management LLP acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the fourth quarter, Holdings Channel reports. The fund acquired 49,767 shares of the company’s stock, valued at approximately $4,061,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Global X Japan Co. Ltd. boosted its position in shares of Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after buying an additional 190 shares during the period. Avior Wealth Management LLC boosted its position in Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the period. Geneos Wealth Management Inc. acquired a new stake in Zoom Video Communications during the 4th quarter worth about $39,000. Truvestments Capital LLC purchased a new position in Zoom Video Communications during the 3rd quarter valued at about $37,000. Finally, Allworth Financial LP grew its stake in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after acquiring an additional 180 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on ZM shares. Benchmark boosted their price objective on shares of Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. UBS Group upped their target price on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Friday, January 10th. Finally, Piper Sandler increased their price objective on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Sixteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $89.48.

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,333 shares of Zoom Video Communications stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total value of $6,958,305.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Aparna Bawa sold 9,317 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the transaction, the chief operating officer now directly owns 14,053 shares of the company’s stock, valued at $1,105,830.57. This trade represents a 39.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 382,242 shares of company stock worth $31,230,938. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $82.50 on Monday. The company’s 50 day simple moving average is $83.18 and its 200 day simple moving average is $76.37. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The stock has a market capitalization of $25.29 billion and a price-to-earnings ratio of 27.50.

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.