Swedbank AB Has $2.92 Million Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Swedbank AB lifted its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 6.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,896 shares of the company’s stock after purchasing an additional 2,518 shares during the quarter. Swedbank AB’s holdings in Zoom Video Communications were worth $2,922,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Zoom Video Communications in the 2nd quarter valued at $33,000. Allworth Financial LP lifted its position in Zoom Video Communications by 43.8% in 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. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Zoom Video Communications in the 2nd quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Zoom Video Communications in the 2nd quarter valued at $41,000. Finally, Venturi Wealth Management LLC lifted its position in Zoom Video Communications by 56.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after acquiring an additional 274 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan Chadwick sold 12,500 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total transaction of $938,000.00. Following the completion of the sale, the director now directly owns 1,514 shares of the company’s stock, valued at $113,610.56. This represents a 89.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 367,108 shares of company stock valued at $26,796,191 in the last quarter. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of ZM opened at $85.36 on Thursday. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The firm has a market cap of $26.27 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 7.60 and a beta of -0.05. The firm’s 50-day simple moving average is $74.55 and its 200 day simple moving average is $66.03.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Bank of America boosted their price target 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. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Tuesday. JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $85.19.

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.