Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Royal Bank of Canada

Royal Bank of Canada increased its position in Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 49.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 155,704 shares of the company’s stock after buying an additional 51,368 shares during the quarter. Royal Bank of Canada owned about 0.05% of Zoom Video Communications worth $11,459,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ronald Blue Trust Inc. purchased a new stake in shares of Zoom Video Communications during the second quarter valued at $27,000. SeaCrest Wealth Management LLC acquired a new position in Zoom Video Communications during the second quarter valued at $26,000. Global Wealth Management Investment Advisory Inc. raised its position in Zoom Video Communications by 63.3% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after buying an additional 114 shares during the period. Wagner Wealth Management LLC acquired a new position in Zoom Video Communications during the second quarter valued at $32,000. Finally, Neo Ivy Capital Management raised its position in Zoom Video Communications by 56.8% during the second quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock valued at $39,000 after buying an additional 133 shares during the period. Institutional investors and hedge funds own 52.96% of the company’s stock.

Zoom Video Communications Stock Down 1.1 %

Shares of NASDAQ:ZM opened at $68.91 on Thursday. The firm has a market cap of $20.51 billion, a P/E ratio of 215.35, a P/E/G ratio of 3.97 and a beta of -0.21. Zoom Video Communications, Inc. has a 12-month low of $63.55 and a 12-month high of $127.37. The business has a fifty day simple moving average of $72.63 and a 200 day simple moving average of $75.63.

Insider Transactions at Zoom Video Communications

In other news, President Gregory Tomb sold 3,752 shares of the business’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $71.85, for a total value of $269,581.20. Following the transaction, the president now owns 27,520 shares in the company, valued at approximately $1,977,312. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Velchamy Sankarlingam sold 2,993 shares of the company’s stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $69.54, for a total transaction of $208,133.22. Following the completion of the transaction, the insider now directly owns 24,395 shares of the company’s stock, valued at $1,696,428.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Gregory Tomb sold 3,752 shares of the firm’s stock in a transaction that occurred on Monday, December 12th. The shares were 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 of the company’s stock, valued at approximately $1,977,312. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,890 shares of company stock valued at $3,687,022. Corporate insiders own 11.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ZM. Benchmark reaffirmed a “buy” rating and issued a $102.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 28th. Evercore ISI dropped their target price on Zoom Video Communications from $95.00 to $85.00 in a report on Tuesday, November 22nd. Wells Fargo & Company dropped their price target on Zoom Video Communications from $95.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday, November 22nd. Mizuho reissued a “buy” rating and issued a $100.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 28th. Finally, Wedbush began coverage on Zoom Video Communications in a research report on Wednesday, December 14th. They issued a “neutral” rating and a $80.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $93.40.

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.