Nuveen Asset Management LLC Boosts Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Nuveen Asset Management LLC grew its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 579,182 shares of the company’s stock after buying an additional 14,629 shares during the period. Nuveen Asset Management LLC owned 0.19% of Zoom Video Communications worth $42,622,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ZM. Ronald Blue Trust Inc. bought a new stake in shares of Zoom Video Communications during the second quarter valued at approximately $27,000. SeaCrest Wealth Management LLC bought a new stake in Zoom Video Communications in the second quarter worth $26,000. Global Wealth Management Investment Advisory Inc. boosted its holdings in Zoom Video Communications by 63.3% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after acquiring an additional 114 shares in the last quarter. Wagner Wealth Management LLC bought a new stake in Zoom Video Communications in the second quarter worth $32,000. Finally, Neo Ivy Capital Management boosted its holdings in Zoom Video Communications by 56.8% in the second quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares in the last quarter. 52.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Zoom Video Communications news, President Gregory Tomb sold 3,752 shares of the firm’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $71.85, for a total transaction of $269,581.20. Following the transaction, the president now directly owns 27,520 shares in the company, valued at approximately $1,977,312. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Zoom Video Communications news, President Gregory Tomb sold 3,752 shares of the firm’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $71.85, for a total transaction of $269,581.20. Following the transaction, the president now directly owns 27,520 shares in the company, valued at approximately $1,977,312. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kelly Steckelberg sold 3,224 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $65.18, for a total value of $210,140.32. The disclosure for this sale can be found here. Insiders have sold 27,666 shares of company stock worth $1,962,945 in the last ninety days. 11.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ZM shares. Barclays lowered their price target on Zoom Video Communications from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 23rd. Mizuho lowered their price target on Zoom Video Communications from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, November 22nd. Moffett Nathanson lowered their price target on Zoom Video Communications from $85.00 to $80.00 and set an “underperform” rating on the stock in a report on Tuesday, November 22nd. Wells Fargo & Company reduced their price objective on Zoom Video Communications from $95.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 22nd. Finally, Citigroup reduced their price objective on Zoom Video Communications from $76.00 to $72.00 and set a “sell” rating for the company in a research report on Wednesday, November 16th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and a consensus price target of $99.68.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM opened at $73.93 on Monday. The business’s 50 day moving average price is $71.97 and its 200-day moving average price is $77.40. Zoom Video Communications, Inc. has a fifty-two week low of $63.55 and a fifty-two week high of $136.00. The company has a market cap of $22.00 billion, a price-to-earnings ratio of 32.43, a PEG ratio of 6.72 and a beta of -0.22.

About Zoom Video Communications

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Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.