Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System boosted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 1.3% in the 3rd quarter, Holdings Channel reports. The firm owned 383,806 shares of the company’s stock after buying an additional 5,053 shares during the period. California State Teachers Retirement System’s holdings in Zoom Video Communications were worth $28,244,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Global Wealth Management Investment Advisory Inc. increased its stake in Zoom Video Communications by 63.3% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. CNB Bank boosted its stake in Zoom Video Communications by 7.0% in the 2nd quarter. CNB Bank now owns 1,794 shares of the company’s stock worth $194,000 after purchasing an additional 118 shares during the period. Neo Ivy Capital Management grew its holdings in shares of Zoom Video Communications by 56.8% during the second quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock valued at $39,000 after buying an additional 133 shares in the last quarter. Perigon Wealth Management LLC boosted its position in Zoom Video Communications by 6.7% during the 2nd quarter. Perigon Wealth Management LLC now owns 2,200 shares of the company’s stock worth $238,000 after acquiring an additional 139 shares during the period. Finally, Bellecapital International Ltd. grew its stake in Zoom Video Communications by 2.4% during the 3rd quarter. Bellecapital International Ltd. now owns 6,404 shares of the company’s stock valued at $471,000 after acquiring an additional 152 shares in the last quarter. 52.96% of the stock is currently owned by institutional investors.

Zoom Video Communications Stock Down 2.0 %

Shares of NASDAQ ZM opened at $69.19 on Friday. Zoom Video Communications, Inc. has a 12 month low of $63.55 and a 12 month high of $127.37. The company has a market cap of $20.33 billion, a P/E ratio of 216.22, a P/E/G ratio of 4.05 and a beta of -0.21. The business’s 50 day moving average is $72.83 and its two-hundred day moving average is $74.87.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Credit Suisse Group restated a “neutral” rating and set a $83.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 28th. Morgan Stanley cut their price objective on Zoom Video Communications from $85.00 to $78.00 and set an “equal weight” rating for the company in a report on Wednesday, December 14th. Piper Sandler boosted their target price on Zoom Video Communications from $75.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, February 28th. Barclays cut their price target on Zoom Video Communications from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 23rd. Finally, Stifel Nicolaus lowered their price target on Zoom Video Communications to $75.00 in a research note on Friday, March 3rd. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $93.40.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 2,993 shares of the firm’s stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $69.54, for a total value of $208,133.22. Following the sale, the insider now directly owns 24,395 shares in the company, valued at approximately $1,696,428.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Aparna Bawa sold 14,000 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $70.93, for a total value of $993,020.00. Following the completion of the transaction, the chief operating officer now directly owns 76,777 shares in the company, valued at $5,445,792.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Velchamy Sankarlingam sold 2,993 shares of the business’s stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $69.54, for a total transaction of $208,133.22. Following the completion of the sale, the insider now directly owns 24,395 shares in the company, valued at approximately $1,696,428.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,138 shares of company stock worth $3,887,382. Insiders own 11.24% of the company’s stock.

Zoom Video Communications Profile

(Get Rating)

Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.