Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 15.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,700 shares of the company’s stock after buying an additional 10,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Zoom Video Communications were worth $6,586,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FMR LLC lifted its stake in shares of Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after purchasing an additional 2,395,396 shares during the last quarter. State Street Corp lifted its stake in shares of Zoom Video Communications by 2.3% during the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after purchasing an additional 134,559 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Zoom Video Communications by 4.4% during the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock worth $382,188,000 after purchasing an additional 233,241 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Zoom Video Communications by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock worth $320,177,000 after purchasing an additional 184,518 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of Zoom Video Communications by 9.8% during the 3rd quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company’s stock worth $101,032,000 after purchasing an additional 128,800 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $70.00 to $115.00 in a research note on Tuesday, November 26th. Sanford C. Bernstein upped their target price on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research report on Tuesday, November 26th. Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $70.00 to $85.00 in a research report on Tuesday, January 7th. Cantor Fitzgerald started coverage on Zoom Video Communications in a research report on Friday, January 17th. They set a “neutral” rating and a $87.00 target price on the stock. Finally, Piper Sandler upped their target price on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Sixteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus target price of $89.48.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 83,333 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total value of $6,958,305.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jonathan Chadwick sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total value of $2,008,250.00. Following the completion of the transaction, the director now owns 1,514 shares in the company, valued at approximately $121,619.62. This trade represents a 94.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 382,242 shares of company stock worth $31,230,938. 10.78% of the stock is owned by corporate insiders.

Zoom Video Communications Stock Down 1.7 %

Zoom Video Communications stock opened at $81.10 on Tuesday. The firm has a market cap of $24.86 billion and a price-to-earnings ratio of 27.03. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The business’s 50-day moving average price is $83.13 and its 200 day moving average price is $76.55.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Monday, February 24th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.53). Zoom Video Communications had a return on equity of 10.98% and a net margin of 20.34%. Equities analysts expect that Zoom Video Communications, Inc. will post 2.93 EPS for the current year.

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.