Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,363 shares of the company’s stock after buying an additional 278 shares during the quarter. Farther Finance Advisors LLC’s holdings in Zoom Video Communications were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Zoom Video Communications by 23.8% in the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after purchasing an additional 2,395,396 shares in the last quarter. State Street Corp lifted its holdings in shares of Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after purchasing an additional 134,559 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Zoom Video Communications by 4.4% in the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock valued at $382,188,000 after purchasing an additional 233,241 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Zoom Video Communications by 4.2% in the third quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock valued at $320,177,000 after purchasing an additional 184,518 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Zoom Video Communications by 9.8% in the third quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company’s stock valued at $101,032,000 after purchasing an additional 128,800 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ZM shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Citigroup reduced their price target on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Piper Sandler upped their price objective on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company raised shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $89.33.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 118,036 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $79.03, for a total value of $9,328,385.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 9,317 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the sale, the chief operating officer now directly owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. The trade was a 39.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 369,271 shares of company stock valued at $29,496,892 over the last 90 days. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Up 0.4 %

Zoom Video Communications stock opened at $75.45 on Wednesday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The firm has a fifty day moving average of $80.20 and a 200-day moving average of $77.80. The firm has a market capitalization of $23.03 billion, a P/E ratio of 25.15, a PEG ratio of 5.48 and a beta of 0.26.

About Zoom Video Communications

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.