Mediolanum International Funds Ltd Boosts Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Mediolanum International Funds Ltd grew its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 16.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 210,063 shares of the company’s stock after buying an additional 29,206 shares during the quarter. Mediolanum International Funds Ltd owned 0.07% of Zoom Video Communications worth $17,336,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in ZM. Itau Unibanco Holding S.A. raised its position in Zoom Video Communications by 1.9% in the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock worth $497,000 after acquiring an additional 131 shares in the last quarter. MML Investors Services LLC grew its stake in shares of Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after purchasing an additional 132 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Zoom Video Communications by 1.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock valued at $556,000 after purchasing an additional 145 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of Zoom Video Communications by 3.4% in the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after purchasing an additional 154 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Zoom Video Communications by 27.1% during the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after buying an additional 164 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Trading Up 0.1 %

ZM opened at $87.29 on Friday. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The firm has a market cap of $26.75 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 5.49 and a beta of -0.01. The company has a fifty day simple moving average of $82.94 and a 200 day simple moving average of $73.08.

Insider Buying and Selling at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $307,312.92. Following the completion of the transaction, the insider now owns 107,826 shares in the company, valued at approximately $9,158,740.44. This trade represents a 3.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Shane Crehan sold 1,412 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the completion of the sale, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at $425,240.76. This trade represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 477,481 shares of company stock worth $37,774,948 in the last 90 days. 10.78% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Barclays upped their target price on Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their target price for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Mizuho raised their price objective on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Finally, Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Sixteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.10.

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.