Meiji Yasuda Asset Management Co Ltd. Buys 1,860 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Meiji Yasuda Asset Management Co Ltd. grew its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 54.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,273 shares of the company’s stock after acquiring an additional 1,860 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Zoom Video Communications were worth $430,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ZM. Adero Partners LLC grew its holdings in shares of Zoom Video Communications by 2.4% during the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock valued at $450,000 after buying an additional 129 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in Zoom Video Communications by 1.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after purchasing an additional 131 shares during the last quarter. MML Investors Services LLC increased its holdings in shares of Zoom Video Communications by 1.4% in the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after purchasing an additional 132 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Zoom Video Communications by 3.4% in the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after purchasing an additional 154 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Zoom Video Communications by 27.1% during the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock valued at $63,000 after purchasing an additional 164 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Velchamy Sankarlingam sold 10,817 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $851,189.73. Following the completion of the sale, the insider now owns 117,760 shares in the company, valued at approximately $9,266,534.40. The trade was a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 371,746 shares of company stock valued at $29,689,595 over the last ninety days. 10.78% of the stock is currently owned by company insiders.

Zoom Video Communications Stock Performance

ZM opened at $76.78 on Friday. The stock has a market cap of $23.44 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. The firm’s fifty day moving average is $79.84 and its 200 day moving average is $78.10. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ZM shares. Rosenblatt Securities reiterated a “buy” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Wednesday, March 19th. Benchmark reissued a “buy” rating and set a $97.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Morgan Stanley raised 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 report on Wednesday, December 18th. 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 note on Wednesday, February 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $89.33.

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.