Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 48.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 903,797 shares of the company’s stock after buying an additional 293,375 shares during the period. Retirement Systems of Alabama owned 0.29% of Zoom Video Communications worth $63,031,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ZM. FMR LLC grew its stake in Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after purchasing an additional 2,395,396 shares in the last quarter. State Street Corp boosted its stake in shares of Zoom Video Communications by 2.3% in the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after buying an additional 134,559 shares during the period. AQR Capital Management LLC grew its position in shares of Zoom Video Communications by 78.5% during the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after buying an additional 2,520,987 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Zoom Video Communications by 4.4% during the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock worth $382,188,000 after buying an additional 233,241 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Zoom Video Communications by 60.9% in the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after acquiring an additional 1,855,679 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on ZM. Deutsche Bank Aktiengesellschaft boosted their target price on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Rosenblatt Securities reissued a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a research report on Friday, November 22nd. UBS Group lifted 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. Finally, Sanford C. Bernstein upped their price target on shares of 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. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and an average price target of $85.19.

Zoom Video Communications Trading Down 0.4 %

Shares of NASDAQ ZM traded down $0.39 during trading on Friday, reaching $86.66. The company had a trading volume of 158,968 shares, compared to its average volume of 3,328,033. The stock has a 50-day moving average price of $78.10 and a two-hundred day moving average price of $67.61. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The stock has a market capitalization of $26.56 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 5.46 and a beta of -0.03.

Insiders Place Their Bets

In related news, COO Aparna Bawa sold 10,871 shares of Zoom Video Communications stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $68.12, for a total value of $740,532.52. Following the transaction, the chief operating officer now owns 12,498 shares in the company, valued at approximately $851,363.76. This trade represents a 46.52 % decrease in their ownership of the stock. 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 1,551 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the transaction, the chief accounting officer now owns 3,251 shares in the company, valued at approximately $276,139.94. This trade represents a 32.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 437,414 shares of company stock valued at $32,958,564. Insiders own 10.78% of the company’s stock.

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.