11,450 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Bought by Grant Private Wealth Management Inc

Grant Private Wealth Management Inc acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,450 shares of the company’s stock, valued at approximately $934,000. Zoom Video Communications makes up about 1.0% of Grant Private Wealth Management Inc’s investment portfolio, making the stock its 24th largest holding.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Zoom Video Communications during the 4th quarter worth $751,908,000. State Street Corp boosted its position in Zoom Video Communications by 2.3% during the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after acquiring an additional 134,559 shares during the last quarter. Geode Capital Management LLC grew its stake in Zoom Video Communications by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company’s stock valued at $377,429,000 after acquiring an additional 28,725 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Zoom Video Communications by 9.8% in the 3rd quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company’s stock valued at $101,032,000 after acquiring an additional 128,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Zoom Video Communications by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,367,055 shares of the company’s stock worth $111,565,000 after purchasing an additional 69,612 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Stock Up 1.4 %

NASDAQ ZM opened at $75.04 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 50 day moving average of $79.52 and a two-hundred day moving average of $78.38. The stock has a market capitalization of $22.90 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.

Insider Buying and Selling

In related news, CEO Eric S. Yuan sold 75,531 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $77.86, for a total transaction of $192,703.50. Following the sale, the director now directly owns 169,452 shares in the company, valued at approximately $13,193,532.72. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 371,746 shares of company stock worth $29,689,595. Corporate insiders own 10.78% of the company’s stock.

Analyst Ratings Changes

ZM has been the topic of a number of analyst reports. Citigroup reduced their price objective on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Barclays lowered their price target on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Wednesday, March 19th. Finally, Scotiabank reduced their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Monday, March 17th. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $89.33.

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.