Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Heron Bay Capital Management

Heron Bay Capital Management grew its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,523 shares of the company’s stock after purchasing an additional 248 shares during the quarter. Heron Bay Capital Management’s holdings in Zoom Video Communications were worth $2,165,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. FMR LLC grew its position in shares of Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after buying an additional 2,395,396 shares during the last quarter. State Street Corp grew its position in shares of 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 buying an additional 134,559 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Zoom Video Communications by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock valued at $320,177,000 after buying an additional 184,518 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of Zoom Video Communications by 9.8% during the 3rd quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company’s stock valued at $101,032,000 after buying an additional 128,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Zoom Video Communications by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,367,055 shares of the company’s stock valued at $111,565,000 after buying an additional 69,612 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ZM. Citigroup lowered their price objective on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Morgan Stanley upped their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Rosenblatt Securities restated a “buy” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Wednesday. Finally, Barclays decreased their target price on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $89.33.

Zoom Video Communications Price Performance

ZM stock opened at $75.97 on Friday. The firm has a market cap of $23.19 billion, a PE ratio of 25.32, a P/E/G ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The firm has a 50 day simple moving average of $79.98 and a 200 day simple moving average of $77.88.

Insider Activity at Zoom Video Communications

In related news, COO Aparna Bawa sold 9,317 shares of the company’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 value of $733,154.73. Following the completion of the sale, the chief operating officer now owns 14,053 shares in the company, valued at approximately $1,105,830.57. This represents a 39.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 33,751 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total transaction of $2,655,866.19. Following the completion of the sale, the chief executive officer now owns 34,703 shares of the company’s stock, valued at approximately $2,730,779.07. This trade represents a 49.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 369,271 shares of company stock worth $29,496,892. 10.78% of the stock is owned by corporate insiders.

About Zoom Video Communications

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.