KLP Kapitalforvaltning AS Acquires Shares of 322,800 Zoom Video Communications, Inc. (NASDAQ:ZM)

KLP Kapitalforvaltning AS bought a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 322,800 shares of the company’s stock, valued at approximately $26,344,000. KLP Kapitalforvaltning AS owned about 0.11% of Zoom Video Communications at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. grew its holdings in shares of Zoom Video Communications by 10.3% during the fourth quarter. American Century Companies Inc. now owns 259,176 shares of the company’s stock valued at $21,151,000 after buying an additional 24,261 shares during the last quarter. Sciencast Management LP bought a new position in Zoom Video Communications in the 4th quarter valued at approximately $1,512,000. MRP Capital Investments LLC boosted its stake in Zoom Video Communications by 500.0% during the 4th quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock valued at $49,000 after purchasing an additional 500 shares during the last quarter. DCF Advisers LLC increased its holdings in shares of Zoom Video Communications by 28.6% in the 4th quarter. DCF Advisers LLC now owns 22,500 shares of the company’s stock worth $1,836,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Contrarius Group Holdings Ltd purchased a new position in shares of Zoom Video Communications in the fourth quarter worth $72,854,000. 66.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Eric S. Yuan sold 75,531 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jonathan Chadwick sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total value of $2,008,250.00. Following the transaction, the director now owns 1,514 shares of the company’s stock, valued at $121,619.62. This represents a 94.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 369,271 shares of company stock worth $29,496,892. 10.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ZM shares. Sanford C. Bernstein increased their price objective on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday. Bank of America boosted their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Wednesday. Finally, Mizuho boosted their price target on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus price target of $89.33.

Zoom Video Communications Price Performance

ZM stock opened at $75.97 on Friday. The company has a market capitalization of $23.19 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The business has a 50 day simple moving average of $79.98 and a two-hundred day simple moving average of $77.88.

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.