Ameriprise Financial Inc. Boosts Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Ameriprise Financial Inc. increased its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 17.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 132,120 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. Ameriprise Financial Inc.’s holdings in Zoom Video Communications were worth $10,779,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Alyeska Investment Group L.P. lifted its stake in shares of Zoom Video Communications by 2.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,086,033 shares of the company’s stock valued at $88,631,000 after buying an additional 31,092 shares in the last quarter. Ancora Advisors LLC lifted its position in shares of Zoom Video Communications by 20.8% in the fourth quarter. Ancora Advisors LLC now owns 1,366 shares of the company’s stock valued at $111,000 after acquiring an additional 235 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Zoom Video Communications by 15.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 17,962 shares of the company’s stock valued at $1,466,000 after acquiring an additional 2,437 shares in the last quarter. Comerica Bank boosted its stake in shares of Zoom Video Communications by 18.5% in the fourth quarter. Comerica Bank now owns 3,502 shares of the company’s stock worth $286,000 after acquiring an additional 547 shares during the period. Finally, Utah Retirement Systems grew its position in shares of Zoom Video Communications by 5.0% during the fourth quarter. Utah Retirement Systems now owns 43,620 shares of the company’s stock worth $3,560,000 after purchasing an additional 2,088 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Velchamy Sankarlingam sold 11,839 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total value of $851,342.49. Following the transaction, the insider now directly owns 125,529 shares in the company, valued at $9,026,790.39. The trade was a 8.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,515 shares of company stock valued at $12,132,994 in the last quarter. 11.51% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ZM shares. Mizuho lowered their price target on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Stifel Nicolaus lowered their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Morgan Stanley decreased their price target on shares of Zoom Video Communications from $96.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $86.33.

Zoom Video Communications Price Performance

Zoom Video Communications stock opened at $83.31 on Tuesday. The firm has a market capitalization of $25.43 billion, a P/E ratio of 27.77, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The company’s 50-day moving average is $75.40 and its 200 day moving average is $79.66.

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.