Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. increased its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 710,716 shares of the company’s stock after buying an additional 23,517 shares during the period. Federated Hermes Inc. owned about 0.23% of Zoom Video Communications worth $58,006,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Adero Partners LLC raised its holdings in Zoom Video Communications by 2.4% in the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock valued at $450,000 after acquiring an additional 129 shares during the last quarter. MML Investors Services LLC increased its stake in Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after purchasing an additional 132 shares during the last quarter. MetLife Investment Management LLC lifted its position in Zoom Video Communications by 3.4% during the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after buying an additional 154 shares during the period. GAMMA Investing LLC boosted its stake in 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 buying an additional 164 shares during the last quarter. Finally, Principal Securities Inc. grew its holdings in Zoom Video Communications by 26.9% in the 4th quarter. Principal Securities Inc. now owns 783 shares of the company’s stock valued at $64,000 after buying an additional 166 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analyst Ratings Changes

ZM has been the topic of several recent analyst reports. Barclays cut their price objective on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Royal Bank of Canada restated an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a report on Wednesday, March 19th. UBS Group reduced their target price on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Finally, Morgan Stanley upped their price target on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and an average price target of $89.33.

Zoom Video Communications Stock Performance

ZM opened at $67.75 on Monday. The stock’s fifty day moving average is $79.13 and its 200-day moving average is $78.51. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The company has a market capitalization of $20.68 billion, a PE ratio of 22.58, a P/E/G ratio of 5.48 and a beta of 0.67.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 75,531 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Aparna Bawa sold 9,317 shares of Zoom Video Communications stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the completion of the transaction, the chief operating officer now directly owns 14,053 shares in the company, valued at $1,105,830.57. This represents a 39.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 371,746 shares of company stock worth $29,689,595. 10.78% of the stock is owned by corporate insiders.

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.