B. Metzler seel. Sohn & Co. Holding AG Invests $443,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,348 shares of the company’s stock, valued at approximately $443,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in Zoom Video Communications in the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Zoom Video Communications during the second quarter valued at approximately $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Zoom Video Communications during the second quarter valued at approximately $41,000. Allworth Financial LP boosted its holdings in Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in Zoom Video Communications by 56.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after purchasing an additional 274 shares during the period. Institutional investors own 66.54% of the company’s stock.

Insider Buying and Selling

In related news, COO Aparna Bawa sold 831 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,121.62. This represents a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, November 5th. The stock was 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. Over the last quarter, insiders sold 367,108 shares of company stock worth $26,796,191. 10.78% of the stock is owned by insiders.

Zoom Video Communications Stock Up 5.8 %

Shares of Zoom Video Communications stock opened at $85.88 on Monday. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $87.15. The stock’s 50-day simple moving average is $73.43 and its 200-day simple moving average is $65.54. The company has a market capitalization of $26.43 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 7.33 and a beta of -0.05.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ZM. Morgan Stanley raised their price target on Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft boosted their price target on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Benchmark increased their price objective on shares of Zoom Video Communications from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Rosenblatt Securities restated a “buy” rating and set a $78.00 target price on shares of Zoom Video Communications in a research report on Friday. Finally, Wells Fargo & Company increased their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $76.61.

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.