Geode Capital Management LLC Purchases 28,725 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Geode Capital Management LLC boosted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 0.6% in the 4th quarter, Holdings Channel reports. The firm owned 4,624,160 shares of the company’s stock after buying an additional 28,725 shares during the period. Geode Capital Management LLC’s holdings in Zoom Video Communications were worth $377,429,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Adero Partners LLC grew its holdings in shares of Zoom Video Communications by 2.4% during the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock valued at $450,000 after purchasing an additional 129 shares during the last quarter. MML Investors Services LLC boosted its position in Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after buying an additional 132 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Zoom Video Communications by 3.4% during the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after buying an additional 154 shares during the last quarter. GAMMA Investing LLC increased 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 worth $63,000 after buying an additional 164 shares in the last quarter. Finally, Principal Securities Inc. lifted its stake in shares of Zoom Video Communications by 26.9% in the 4th quarter. Principal Securities Inc. now owns 783 shares of the company’s stock valued at $64,000 after acquiring an additional 166 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insider Activity at Zoom Video Communications

In other news, COO Aparna Bawa sold 9,317 shares of Zoom Video Communications stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the transaction, the chief operating officer now directly owns 14,053 shares in the company, valued at $1,105,830.57. This trade represents a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 83,332 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. Insiders sold 371,746 shares of company stock valued at $29,689,595 in the last three months. Corporate insiders own 10.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ZM. Barclays lowered their target price on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Scotiabank reduced their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Monday, March 17th. Stifel Nicolaus dropped their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Fifteen 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 company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $89.33.

Zoom Video Communications Trading Down 7.5 %

Shares of NASDAQ ZM opened at $67.75 on Friday. The firm has a market capitalization of $20.68 billion, a P/E ratio of 22.58, a P/E/G ratio of 5.48 and a beta of 0.67. The firm’s 50-day moving average price is $79.13 and its 200-day moving average price is $78.35. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

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.