OVERSEA CHINESE BANKING Corp Ltd Grows Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 22.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 20,644 shares of the company’s stock after buying an additional 3,801 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Zoom Video Communications were worth $1,705,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ZM. Adero Partners LLC raised its position in shares of Zoom Video Communications by 2.4% in the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock worth $450,000 after acquiring an additional 129 shares in the last quarter. Itau Unibanco Holding S.A. raised its position in shares of Zoom Video Communications by 1.9% in the 3rd 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 raised its position in shares of Zoom Video Communications by 1.4% in the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after acquiring an additional 132 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after acquiring an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Zoom Video Communications by 27.1% in the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after acquiring an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

ZM stock opened at $76.26 on Thursday. The company has a market cap of $23.28 billion, a P/E ratio of 25.42, a price-to-earnings-growth 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 stock’s fifty day moving average price is $80.13 and its 200-day moving average price is $77.79.

Analyst Ratings Changes

Several research analysts have recently issued reports on ZM shares. Stifel Nicolaus decreased their target price on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. Bank of America increased their target price on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $70.00 to $85.00 in a research report on Tuesday, January 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Morgan Stanley raised their price objective on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $89.33.

Insider Transactions at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 10,817 shares of Zoom Video Communications stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $851,189.73. Following the transaction, the insider now directly owns 117,760 shares in the company, valued at approximately $9,266,534.40. The trade was a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of Zoom Video Communications stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. Insiders have sold a total of 369,271 shares of company stock worth $29,496,892 in the last ninety days. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Company 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.