DnB Asset Management AS Has $3.65 Million Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

DnB Asset Management AS raised its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,658 shares of the company’s stock after purchasing an additional 1,237 shares during the period. DnB Asset Management AS’s holdings in Zoom Video Communications were worth $3,645,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ZM. Global X Japan Co. Ltd. increased its holdings in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after purchasing an additional 190 shares during the period. Avior Wealth Management LLC raised its holdings in Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 258 shares during the period. Geneos Wealth Management Inc. acquired a new stake in shares of Zoom Video Communications during the 4th quarter worth $39,000. Finally, MRP Capital Investments LLC increased its position in shares of Zoom Video Communications by 500.0% in the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock worth $49,000 after purchasing an additional 500 shares during the period. 66.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ZM has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Barclays reduced their price target on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Morgan Stanley raised their target price on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Finally, Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $100.00 in a report on Thursday, December 19th. Fifteen equities research 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 company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $89.33.

Insider Activity at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 10,817 shares of the stock in a transaction on 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 $9,266,534.40. This trade represents a 8.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications 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 disclosure for this sale can be found here. Insiders have sold 371,746 shares of company stock worth $29,689,595 in the last quarter. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of ZM opened at $73.77 on Tuesday. The firm has a market cap 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. 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 $79.69 and its two-hundred day moving average price is $78.36.

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.