49,767 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Acquired by RWC Asset Management LLP

RWC Asset Management LLP acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 49,767 shares of the company’s stock, valued at approximately $4,061,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Global X Japan Co. Ltd. grew its stake 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 valued at $28,000 after buying an additional 190 shares during the last quarter. Avior Wealth Management LLC grew its position 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 during the last quarter. Geneos Wealth Management Inc. purchased a new stake in Zoom Video Communications in the fourth quarter worth $39,000. Truvestments Capital LLC purchased a new stake in Zoom Video Communications in the third quarter worth $37,000. Finally, Allworth Financial LP lifted its position in shares of Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Down 1.1 %

Shares of ZM opened at $82.50 on Monday. The firm has a market cap of $25.29 billion and a PE ratio of 27.50. The company’s fifty day moving average is $83.18 and its two-hundred day moving average is $76.37. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Analyst Upgrades and Downgrades

ZM has been the topic of several research reports. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $70.00 to $85.00 in a report on Tuesday, January 7th. Bank of America lifted their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Barclays upped their price objective on shares of Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Stifel Nicolaus raised their target price on shares of Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a research report on Tuesday, November 26th. Finally, Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Sixteen 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $89.48.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 118,036 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $79.03, for a total transaction of $9,328,385.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Aparna Bawa sold 9,317 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the sale, the chief operating officer now owns 14,053 shares in the company, valued at approximately $1,105,830.57. This trade represents a 39.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 382,242 shares of company stock valued at $31,230,938 over the last 90 days. Corporate insiders own 10.78% of the company’s stock.

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.