Swedbank AB Has $6.71 Million Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Swedbank AB raised its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 96.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 82,247 shares of the company’s stock after purchasing an additional 40,351 shares during the quarter. Swedbank AB’s holdings in Zoom Video Communications were worth $6,712,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ZM. Avior Wealth Management LLC boosted its position in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after buying an additional 265 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of Zoom Video Communications during the 3rd quarter valued at $37,000. Geneos Wealth Management Inc. bought a new stake in Zoom Video Communications during the 4th quarter worth $39,000. Allworth Financial LP increased its holdings in Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after purchasing an additional 274 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 3,618 shares of the stock in a transaction 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 sale, the insider now directly owns 107,826 shares of the company’s stock, valued at approximately $9,158,740.44. This represents a 3.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. Insiders have sold a total of 477,481 shares of company stock worth $37,774,948 in the last ninety days. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Performance

ZM stock opened at $86.94 on Friday. The stock’s 50 day simple moving average is $83.08 and its 200 day simple moving average is $73.38. The company has a market cap of $26.65 billion, a P/E ratio of 28.98, a price-to-earnings-growth ratio of 5.49 and a beta of -0.01. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ZM. Piper Sandler upped their price objective on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Jefferies Financial Group upgraded shares of Zoom Video Communications from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Benchmark increased their price objective on Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Wedbush started coverage on Zoom Video Communications in a report on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price on the stock. Sixteen investment 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 stock. According to data from MarketBeat, Zoom Video Communications currently has an average 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.