HighTower Advisors LLC Boosts Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

HighTower Advisors LLC grew its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 449.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 63,618 shares of the company’s stock after acquiring an additional 52,039 shares during the period. HighTower Advisors LLC’s holdings in Zoom Video Communications were worth $4,429,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. FMR LLC raised its position in shares of 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 purchasing an additional 2,395,396 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after acquiring an additional 2,520,987 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Zoom Video Communications by 4.4% in the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock valued at $382,188,000 after acquiring an additional 233,241 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock valued at $290,153,000 after acquiring an additional 1,855,679 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Zoom Video Communications by 24.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company’s stock worth $80,827,000 after purchasing an additional 264,217 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 83,333 shares of Zoom Video Communications stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total value of $6,958,305.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kelly Steckelberg sold 8,901 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $66.47, for a total value of $591,649.47. The disclosure for this sale can be found here. Insiders sold a total of 432,245 shares of company stock valued at $32,519,509 over the last ninety days. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Down 2.0 %

NASDAQ:ZM opened at $83.83 on Wednesday. The company has a 50-day moving average of $77.02 and a 200-day moving average of $67.19. The firm has a market cap of $25.69 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 5.44 and a beta of -0.03. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ZM shares. Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. UBS Group boosted 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. Mizuho raised their price objective on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a research note on Friday, November 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $85.19.

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.