Bellecapital International Ltd. Boosts Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Bellecapital International Ltd. raised its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 12.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,292 shares of the company’s stock after purchasing an additional 2,984 shares during the quarter. Bellecapital International Ltd.’s holdings in Zoom Video Communications were worth $2,146,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FMR LLC raised its holdings in shares of Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after buying an additional 2,395,396 shares during the period. State Street Corp raised its holdings 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. Pacer Advisors Inc. raised its holdings in shares of Zoom Video Communications by 4.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock valued at $382,188,000 after buying an additional 233,241 shares during the period. Geode Capital Management LLC raised its holdings in shares of Zoom Video Communications by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock valued at $320,177,000 after buying an additional 184,518 shares during the period. Finally, Two Sigma Advisers LP raised its holdings in shares of Zoom Video Communications by 9.8% in the 3rd quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company’s stock valued at $101,032,000 after buying an additional 128,800 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

ZM has been the topic of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Rosenblatt Securities restated a “buy” rating and set a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Benchmark restated a “buy” rating and set a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $70.00 to $85.00 in a report on Tuesday, January 7th. Finally, JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Fifteen 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 company. According to MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $90.05.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 118,036 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $79.03, for a total transaction of $9,328,385.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Aparna Bawa sold 9,317 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the transaction, the chief operating officer now directly owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. This trade represents a 39.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 382,242 shares of company stock valued at $31,230,938 in the last ninety days. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Up 1.1 %

ZM opened at $73.70 on Monday. The business has a 50 day moving average price of $82.30 and a two-hundred day moving average price of $77.04. The company has a market cap of $22.59 billion and a PE ratio of 24.57. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80.

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.