Algert Global LLC Raises Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Algert Global LLC grew its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 10.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,841 shares of the company’s stock after buying an additional 951 shares during the quarter. Algert Global LLC’s holdings in Zoom Video Communications were worth $686,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cerity Partners LLC lifted its position in Zoom Video Communications by 263.9% in the third quarter. Cerity Partners LLC now owns 92,464 shares of the company’s stock worth $6,448,000 after buying an additional 67,054 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Zoom Video Communications in the 3rd quarter worth about $62,038,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Zoom Video Communications by 6.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,297,443 shares of the company’s stock worth $90,484,000 after acquiring an additional 78,940 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Zoom Video Communications by 4.4% during the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock valued at $382,188,000 after purchasing an additional 233,241 shares during the last quarter. Finally, Primecap Management Co. CA raised its position in Zoom Video Communications by 0.7% in the 3rd quarter. Primecap Management Co. CA now owns 1,289,150 shares of the company’s stock worth $89,905,000 after purchasing an additional 8,625 shares during the period. Institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ZM. Mizuho boosted their target price on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday. Rosenblatt Securities restated a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a report on Friday, November 22nd. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday. Piper Sandler lifted their target price on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $85.19.

Insider Transactions at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,550 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the transaction, the chief accounting officer now directly owns 1,463 shares in the company, valued at $97,830.81. The trade was a 51.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Velchamy Sankarlingam sold 3,614 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $241,668.18. Following the completion of the sale, the insider now owns 94,000 shares of the company’s stock, valued at approximately $6,285,780. This trade represents a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 367,108 shares of company stock valued at $26,796,191 in the last 90 days. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

ZM opened at $82.69 on Friday. The firm has a market capitalization of $25.45 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 5.69 and a beta of -0.05. The business’s 50-day moving average is $75.22 and its two-hundred day moving average is $66.30. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80.

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.