Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co grew its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 22.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,271 shares of the company’s stock after purchasing an additional 5,026 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Zoom Video Communications were worth $2,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Zoom Video Communications by 11.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 187,073 shares of the company’s stock worth $15,471,000 after purchasing an additional 19,121 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Zoom Video Communications by 54.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,273 shares of the company’s stock valued at $430,000 after buying an additional 1,860 shares during the period. Cannon Global Investment Management LLC acquired a new position in Zoom Video Communications in the fourth quarter valued at approximately $775,000. Heron Bay Capital Management grew its position in Zoom Video Communications by 0.9% in the fourth quarter. Heron Bay Capital Management now owns 26,523 shares of the company’s stock worth $2,165,000 after acquiring an additional 248 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Zoom Video Communications during the fourth quarter worth $26,344,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Stock Down 2.5 %

ZM stock opened at $74.84 on Friday. The business has a 50 day moving average price of $79.78 and a 200 day moving average price of $78.23. The stock has a market cap of $22.84 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Wall Street Analyst Weigh In

ZM has been the subject of a number of research analyst reports. Scotiabank lowered their price target on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating for the company in a report on Monday, March 17th. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Barclays lowered their price objective 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. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Finally, Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Fifteen 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. According to data from MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and a consensus price target of $89.33.

Insider Transactions at Zoom Video Communications

In other news, Director Santiago Subotovsky sold 2,475 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the transaction, the director now directly owns 169,452 shares in the company, valued at approximately $13,193,532.72. This trade represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Shane Crehan sold 1,412 shares of Zoom Video Communications stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 5,404 shares in the company, valued at $425,240.76. The trade was a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 371,746 shares of company stock worth $29,689,595. 10.78% of the stock is currently owned by 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.