Meeder Asset Management Inc. Acquires Shares of 7,303 Zoom Video Communications, Inc. (NASDAQ:ZM)

Meeder Asset Management Inc. bought a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 7,303 shares of the company’s stock, valued at approximately $596,000.

Several other large investors have also modified their holdings of ZM. The Manufacturers Life Insurance Company grew its stake in Zoom Video Communications by 20.2% in the third quarter. The Manufacturers Life Insurance Company now owns 16,125 shares of the company’s stock worth $1,125,000 after purchasing an additional 2,714 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after acquiring an additional 154 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Zoom Video Communications by 59.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,107 shares of the company’s stock worth $8,237,000 after purchasing an additional 44,203 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Zoom Video Communications by 67.6% in the 3rd quarter. Captrust Financial Advisors now owns 11,361 shares of the company’s stock valued at $792,000 after buying an additional 4,584 shares during the period. Finally, HighTower Advisors LLC grew its holdings in Zoom Video Communications by 449.4% during the third quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after acquiring an additional 52,039 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Down 1.4 %

Shares of ZM opened at $73.77 on Tuesday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The stock has a fifty day simple moving average of $79.69 and a two-hundred day simple moving average of $78.36. The company has a market capitalization of $22.52 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.

Insider Activity at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,412 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $111,110.28. Following the completion of the transaction, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 10,817 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $851,189.73. Following the transaction, the insider now directly owns 117,760 shares in the company, valued at approximately $9,266,534.40. The trade was a 8.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 371,746 shares of company stock valued at $29,689,595. 10.78% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on ZM. Wells Fargo & Company raised shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Benchmark restated a “buy” rating and set a $97.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Barclays reduced their price target on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, Citigroup dropped their price objective on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $89.33.

Zoom Video Communications Company 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.