Louisiana State Employees Retirement System boosted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 23.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,500 shares of the company’s stock after purchasing an additional 2,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Zoom Video Communications were worth $3,374,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Strs Ohio boosted its stake in Zoom Video Communications by 86.8% in the 4th quarter. Strs Ohio now owns 84,428 shares of the company’s stock worth $28,479,000 after purchasing an additional 39,225 shares during the period. Worldquant Millennium Advisors LLC boosted its stake in Zoom Video Communications by 408.2% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 68,137 shares of the company’s stock worth $22,984,000 after purchasing an additional 54,730 shares during the period. Amundi Pioneer Asset Management Inc. boosted its position in shares of Zoom Video Communications by 42.1% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 115,235 shares of the company’s stock valued at $38,870,000 after acquiring an additional 34,153 shares during the last quarter. Maryland State Retirement & Pension System bought a new position in shares of Zoom Video Communications during the 4th quarter valued at approximately $1,056,000. Finally, Ballew Advisors Inc boosted its position in shares of Zoom Video Communications by 58.0% during the 4th quarter. Ballew Advisors Inc now owns 697 shares of the company’s stock valued at $235,000 after acquiring an additional 256 shares during the last quarter. Institutional investors and hedge funds own 37.97% of the company’s stock.
ZM opened at $332.38 on Friday. Zoom Video Communications, Inc. has a 12-month low of $132.67 and a 12-month high of $588.84. The business’s fifty day simple moving average is $336.51 and its 200-day simple moving average is $403.57. The company has a market capitalization of $97.62 billion, a price-to-earnings ratio of 426.13, a PEG ratio of 12.42 and a beta of -1.46.
A number of research firms have recently commented on ZM. Daiwa Capital Markets began coverage on Zoom Video Communications in a research report on Wednesday, March 31st. They set a “sell” rating and a $250.00 target price for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Zoom Video Communications in a research report on Thursday, April 1st. They set a “hold” rating and a $360.00 target price for the company. Zacks Investment Research lowered Zoom Video Communications from a “buy” rating to a “hold” rating and set a $354.00 price target on the stock. in a report on Monday, March 8th. Morgan Stanley increased their price target on Zoom Video Communications from $390.00 to $420.00 and gave the company an “equal weight” rating in a report on Monday, March 8th. Finally, Piper Sandler upgraded Zoom Video Communications from a “neutral” rating to an “overweight” rating and increased their price target for the company from $501.00 to $541.00 in a report on Monday, March 8th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. Zoom Video Communications currently has an average rating of “Hold” and an average price target of $423.62.
In other Zoom Video Communications news, Director Daniel Scheinman sold 167,466 shares of the firm’s stock in a transaction dated Wednesday, March 3rd. The stock was sold at an average price of $363.68, for a total value of $60,904,034.88. Following the completion of the sale, the director now owns 150,000 shares of the company’s stock, valued at $54,552,000. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bart Swanson sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 1st. The stock was sold at an average price of $368.45, for a total value of $736,900.00. Following the completion of the sale, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $736,900. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 455,362 shares of company stock worth $161,268,780. 24.25% of the stock is owned by corporate insiders.
Zoom Video Communications Company Profile
Zoom Video Communications, Inc provides a video-first communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company's product portfolio includes 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 that provides secure call routing, call queuing, call detail reports, call recording, call quality monitoring, voicemail, switch to video, and other services, as well as inbound and outbound calling services; and Zoom Chat enables sharing messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.
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