Nordea Investment Management AB Increases Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Nordea Investment Management AB increased its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 202.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 779,051 shares of the company’s stock after acquiring an additional 521,778 shares during the period. Nordea Investment Management AB’s holdings in Zoom Video Communications were worth $64,054,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Truvestments Capital LLC acquired a new stake in Zoom Video Communications during the 3rd quarter valued at approximately $37,000. Allworth Financial LP boosted its stake in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after buying an additional 180 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of Zoom Video Communications by 56.0% during the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after buying an additional 274 shares in the last quarter. GAMMA Investing LLC raised its holdings in Zoom Video Communications by 27.1% in the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock valued at $63,000 after acquiring an additional 164 shares in the last quarter. Finally, True Wealth Design LLC boosted its stake in Zoom Video Communications by 10,763.6% during the 3rd quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock valued at $83,000 after acquiring an additional 1,184 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 10,338 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $69.51, for a total value of $718,594.38. Following the completion of the sale, the insider now owns 104,414 shares of the company’s stock, valued at approximately $7,257,817.14. The trade was a 9.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jonathan Chadwick sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $68.36, for a total transaction of $854,500.00. Following the completion of the sale, the director now directly owns 1,514 shares of the company’s stock, valued at $103,497.04. This represents a 89.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 350,429 shares of company stock worth $27,039,704 in the last three months. 10.78% of the stock is currently owned by insiders.

Zoom Video Communications Price Performance

Shares of ZM opened at $80.45 on Wednesday. The firm’s 50 day moving average is $82.67 and its 200-day moving average is $70.64. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The stock has a market capitalization of $24.66 billion, a P/E ratio of 26.82, a P/E/G ratio of 5.29 and a beta of -0.01.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ZM shares. Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $70.00 to $85.00 in a report on Tuesday. Wedbush started coverage on Zoom Video Communications in a report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price target for the company. UBS Group increased their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $87.81.

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.