Franklin Resources Inc. Raises Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Franklin Resources Inc. lifted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 24.4% in the fourth quarter, Holdings Channel reports. The fund owned 412,616 shares of the company’s stock after purchasing an additional 80,834 shares during the quarter. Franklin Resources Inc.’s holdings in Zoom Video Communications were worth $33,673,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZM. Global X Japan Co. Ltd. increased its position in Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after acquiring an additional 190 shares during the last quarter. Avior Wealth Management LLC grew its holdings in Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 258 shares during the period. Geneos Wealth Management Inc. bought a new stake in Zoom Video Communications in the fourth quarter worth about $39,000. Finally, MRP Capital Investments LLC boosted its position in shares of Zoom Video Communications by 500.0% during the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock valued at $49,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ZM shares. Scotiabank reduced their price target on 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. Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Wednesday, March 19th. UBS Group decreased their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $87.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen research 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 MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $89.33.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $67.75 on Friday. The stock’s fifty day moving average price is $79.13 and its 200 day moving average price is $78.42. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The company has a market cap of $20.68 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67.

Insider Transactions at Zoom Video Communications

In other news, COO Aparna Bawa sold 9,317 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the sale, the chief operating officer now owns 14,053 shares in the company, valued at $1,105,830.57. This 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 the SEC website. Also, CEO Eric S. Yuan sold 118,036 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $79.03, for a total transaction of $9,328,385.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 371,746 shares of company stock worth $29,689,595. Insiders own 10.78% of the company’s stock.

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.