Franklin Resources Inc. Buys 80,834 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Franklin Resources Inc. lifted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 24.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 412,616 shares of the company’s stock after purchasing an additional 80,834 shares during the period. Franklin Resources Inc. owned 0.13% of Zoom Video Communications worth $33,673,000 as of its most recent SEC filing.

A number of other large investors have also recently 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 during the period. MetLife Investment Management LLC increased its stake in shares of Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after acquiring an additional 154 shares in the last quarter. Captrust Financial Advisors increased its stake 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 worth $792,000 after acquiring an additional 4,584 shares in the last quarter. HighTower Advisors LLC lifted its position in Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after acquiring an additional 52,039 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in Zoom Video Communications by 74.4% during the third quarter. Quantinno Capital Management LP now owns 56,835 shares of the company’s stock worth $3,964,000 after acquiring an additional 24,237 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ZM shares. Morgan Stanley lifted their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. Benchmark reaffirmed a “buy” rating and issued a $97.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Rosenblatt Securities reissued a “buy” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $87.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. 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 MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $89.33.

Insiders Place Their Bets

In related news, CEO Eric S. Yuan sold 83,332 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 9,317 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $733,154.73. Following the transaction, the chief operating officer now owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. The trade was a 39.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 371,746 shares of company stock worth $29,689,595 over the last quarter. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Trading Down 7.5 %

Shares of ZM stock opened at $67.75 on Friday. The company has a 50 day simple moving average of $79.13 and a two-hundred day simple moving average of $78.42. The stock has a market cap of $20.68 billion, a P/E ratio of 22.58, a P/E/G ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80.

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.