PNC Financial Services Group Inc. Grows Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

PNC Financial Services Group Inc. increased its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,040 shares of the company’s stock after buying an additional 168 shares during the period. PNC Financial Services Group Inc.’s holdings in Zoom Video Communications were worth $330,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Edgestream Partners L.P. purchased a new stake in shares of Zoom Video Communications during the fourth quarter worth approximately $826,000. Jackson Creek Investment Advisors LLC boosted its holdings in Zoom Video Communications by 10.3% in the fourth quarter. Jackson Creek Investment Advisors LLC now owns 5,435 shares of the company’s stock valued at $444,000 after purchasing an additional 508 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in Zoom Video Communications by 10.9% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 6,624 shares of the company’s stock valued at $541,000 after purchasing an additional 651 shares in the last quarter. Vestmark Advisory Solutions Inc. acquired a new position in Zoom Video Communications in the fourth quarter valued at approximately $1,999,000. Finally, Avory & Company LLC boosted its holdings in Zoom Video Communications by 2.0% in the fourth quarter. Avory & Company LLC now owns 302,590 shares of the company’s stock valued at $24,694,000 after purchasing an additional 5,840 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ZM has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Wednesday. Hsbc Global Res raised Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Finally, Bank of America upped their price target on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Fifteen investment 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $89.33.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM opened at $75.97 on Friday. The stock has a fifty day moving average price of $79.98 and a 200 day moving average price of $77.82. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The company has a market cap of $23.19 billion, a PE ratio of 25.32, a P/E/G ratio of 5.48 and a beta of 0.26.

Insider Buying and Selling

In other Zoom Video Communications news, CAO Shane Crehan sold 1,412 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 $111,110.28. Following the completion of the transaction, the chief accounting officer now owns 5,404 shares in the company, valued at approximately $425,240.76. This represents a 20.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Aparna Bawa sold 9,317 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 $733,154.73. Following the completion of the transaction, the chief operating officer now owns 14,053 shares of the company’s stock, valued at $1,105,830.57. The trade was a 39.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 369,271 shares of company stock valued at $29,496,892 over the last three months. 10.78% of the stock is currently owned by company insiders.

Zoom Video Communications 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.