Nordea Investment Management AB Increases Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Nordea Investment Management AB raised its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 202.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 779,051 shares of the company’s stock after acquiring an additional 521,778 shares during the quarter. Nordea Investment Management AB owned approximately 0.25% of Zoom Video Communications worth $64,054,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC lifted its position in 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 acquiring an additional 2,395,396 shares during the period. State Street Corp lifted its holdings in shares of Zoom Video Communications by 2.3% during the third 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 period. AQR Capital Management LLC increased its stake in Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after buying an additional 2,520,987 shares during the period. Pacer Advisors Inc. raised its position 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 worth $382,188,000 after buying an additional 233,241 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in 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 buying an additional 184,518 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of ZM opened at $80.45 on Wednesday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The stock has a fifty day moving average of $82.67 and a two-hundred day moving average of $70.64. The company has a market capitalization of $24.66 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 5.29 and a beta of -0.01.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ZM shares. Morgan Stanley boosted their price target on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Mizuho increased their target price on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note 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 research note on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Tuesday, November 26th. Finally, Bank of America upped their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and an average price target of $87.81.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 35,722 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $71.45, for a total transaction of $2,552,336.90. Following the completion of the sale, the chief executive officer now owns 57,371 shares in the company, valued at approximately $4,099,157.95. The trade was a 38.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Shane Crehan sold 1,551 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $131,741.94. Following the completion of the transaction, the chief accounting officer now owns 3,251 shares in the company, valued at $276,139.94. The trade was a 32.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 350,429 shares of company stock worth $27,039,704. 10.78% of the stock is owned by company insiders.

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.