Crossmark Global Holdings Inc. Increases Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Crossmark Global Holdings Inc. raised its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 464.0% in the fourth quarter, HoldingsChannel reports. The fund owned 16,374 shares of the company’s stock after purchasing an additional 13,471 shares during the period. Crossmark Global Holdings Inc.’s holdings in Zoom Video Communications were worth $1,336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ZM. FMR LLC raised its position in Zoom Video Communications by 23.8% during the third 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. Eagle Asset Management Inc. acquired a new position in shares of Zoom Video Communications during the 3rd quarter worth about $62,038,000. Assenagon Asset Management S.A. lifted its stake in Zoom Video Communications by 126.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock valued at $102,119,000 after buying an additional 699,625 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Zoom Video Communications by 202.8% in the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock worth $64,054,000 after buying an additional 521,778 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in Zoom Video Communications by 6,614.6% during the 3rd quarter. International Assets Investment Management LLC now owns 499,966 shares of the company’s stock worth $34,868,000 after buying an additional 492,520 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Shane Crehan sold 1,551 shares of Zoom Video Communications stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the transaction, the chief accounting officer now owns 3,251 shares of the company’s stock, valued at $276,139.94. The trade was a 32.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 489,981 shares of company stock valued at $38,712,948 in the last three months. 10.78% of the stock is owned by corporate insiders.

Zoom Video Communications Trading Up 0.2 %

ZM stock opened at $80.17 on Friday. The business’s fifty day moving average price is $82.51 and its 200 day moving average price is $72.20. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The company has a market capitalization of $24.57 billion, a PE ratio of 26.72, a P/E/G ratio of 4.99 and a beta of -0.01.

Analysts Set New Price Targets

Several analysts recently commented on ZM shares. Mizuho boosted their price target on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Wells Fargo & Company raised shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. Bank of America upped their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Sixteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $89.10.

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.