Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 5.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 590,273 shares of the company’s stock after purchasing an additional 32,749 shares during the period. Teacher Retirement System of Texas owned 0.19% of Zoom Video Communications worth $48,172,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ZM. Global X Japan Co. Ltd. lifted its holdings in Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after acquiring an additional 190 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 258 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in Zoom Video Communications in the fourth quarter worth about $39,000. Finally, Truvestments Capital LLC bought a new position in Zoom Video Communications in the third quarter worth about $37,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ZM shares. Mizuho lifted their price target on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Piper Sandler lifted their price target on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Sanford C. Bernstein lifted their price target on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a report on Tuesday, November 26th. Benchmark reaffirmed a “buy” rating and set a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Scotiabank cut their price target on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Monday. Fifteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $89.33.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Aparna Bawa sold 9,317 shares of Zoom Video Communications stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the transaction, the chief operating officer now owns 14,053 shares in the company, valued at approximately $1,105,830.57. The trade was a 39.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 369,271 shares of company stock worth $29,496,892. 10.78% of the stock is owned by insiders.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $76.03 on Friday. The firm has a market cap of $23.21 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The firm’s 50 day moving average price is $80.05 and its two-hundred day moving average price is $77.77.

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.