Vanguard Group Inc. Buys 3,241,291 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Vanguard Group Inc. raised its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 23.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,125,004 shares of the company’s stock after acquiring an additional 3,241,291 shares during the period. Vanguard Group Inc. owned about 5.75% of Zoom Video Communications worth $1,260,230,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Ronald Blue Trust Inc. bought a new stake in shares of Zoom Video Communications during the 2nd quarter worth $27,000. SeaCrest Wealth Management LLC bought a new stake in shares of Zoom Video Communications during the 2nd quarter worth $26,000. Global Wealth Management Investment Advisory Inc. raised its stake in shares of Zoom Video Communications by 63.3% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after purchasing an additional 114 shares during the period. Wagner Wealth Management LLC bought a new stake in shares of Zoom Video Communications during the 2nd quarter worth $32,000. Finally, Neo Ivy Capital Management raised its stake in shares of Zoom Video Communications by 56.8% during the 2nd quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the period. 52.96% of the stock is currently owned by institutional investors.

Zoom Video Communications Trading Down 0.7 %

Shares of NASDAQ ZM opened at $67.12 on Monday. Zoom Video Communications, Inc. has a 12 month low of $63.55 and a 12 month high of $127.37. The firm has a market capitalization of $19.72 billion, a price-to-earnings ratio of 209.76, a PEG ratio of 3.83 and a beta of -0.21. The business has a 50-day moving average of $72.61 and a 200-day moving average of $75.27.

Insider Buying and Selling

In related news, COO Aparna Bawa sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $71.75, for a total value of $502,250.00. Following the completion of the sale, the chief operating officer now owns 70,639 shares in the company, valued at approximately $5,068,348.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, President Gregory Tomb sold 4,801 shares of the business’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $70.98, for a total value of $340,774.98. Following the completion of the sale, the president now owns 28,611 shares in the company, valued at approximately $2,030,808.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Aparna Bawa sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $71.75, for a total value of $502,250.00. Following the completion of the sale, the chief operating officer now owns 70,639 shares of the company’s stock, valued at approximately $5,068,348.25. The disclosure for this sale can be found here. Insiders sold 44,914 shares of company stock worth $3,182,508 in the last quarter. 11.24% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ZM shares. Wells Fargo & Company lowered their price objective on Zoom Video Communications from $95.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 22nd. Wedbush started coverage on Zoom Video Communications in a research note on Wednesday, December 14th. They issued a “neutral” rating and a $80.00 price objective on the stock. Morgan Stanley lowered their price objective on Zoom Video Communications from $85.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 14th. Deutsche Bank Aktiengesellschaft lowered their price objective on Zoom Video Communications from $95.00 to $75.00 and set a “hold” rating on the stock in a research note on Tuesday, November 22nd. Finally, MKM Partners cut Zoom Video Communications from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $100.00 to $75.00 in a research note on Monday, January 23rd. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.40.

Zoom Video Communications Profile

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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.