Camelot Portfolios LLC Increases Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Camelot Portfolios LLC increased its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 12.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,690 shares of the company’s stock after buying an additional 990 shares during the period. Camelot Portfolios LLC’s holdings in Zoom Video Communications were worth $709,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after buying an additional 2,395,396 shares during the last quarter. Eagle Asset Management Inc. bought a new position in Zoom Video Communications during the 3rd quarter valued at $62,038,000. Assenagon Asset Management S.A. grew its holdings in Zoom Video Communications by 126.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock worth $102,119,000 after acquiring an additional 699,625 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Zoom Video Communications by 202.8% in the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock worth $64,054,000 after purchasing an additional 521,778 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Zoom Video Communications by 6,614.6% in the 3rd quarter. International Assets Investment Management LLC now owns 499,966 shares of the company’s stock valued at $34,868,000 after purchasing an additional 492,520 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

ZM opened at $82.50 on Friday. The business has a 50 day moving average price of $83.21 and a two-hundred day moving average price of $75.90. The company has a market capitalization of $25.29 billion and a price-to-earnings ratio of 27.50. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

Analysts Set New Price Targets

Several brokerages recently weighed in on ZM. The Goldman Sachs Group boosted their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Rosenblatt Securities reissued a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research report on Friday, November 22nd. Piper Sandler lifted their price objective on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a report on Tuesday, November 26th. Finally, Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $100.00 in a report on Thursday, December 19th. Sixteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $89.48.

Insider Transactions at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 118,036 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $79.03, for a total transaction of $9,328,385.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total value of $2,008,250.00. Following the completion of the transaction, the director now directly owns 1,514 shares in the company, valued at $121,619.62. This represents a 94.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 382,242 shares of company stock valued at $31,230,938. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Company 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.