Charles Schwab Investment Management Inc. Acquires 78,940 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Charles Schwab Investment Management Inc. raised its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 6.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,297,443 shares of the company’s stock after buying an additional 78,940 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.42% of Zoom Video Communications worth $90,484,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ZM. Pacer Advisors Inc. grew its position in Zoom Video Communications by 4.4% in the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock worth $382,188,000 after acquiring an additional 233,241 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Zoom Video Communications by 0.7% during the 3rd quarter. Primecap Management Co. CA now owns 1,289,150 shares of the company’s stock valued at $89,905,000 after purchasing an additional 8,625 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Zoom Video Communications during the 3rd quarter valued at about $443,000. Banque Cantonale Vaudoise boosted its stake in Zoom Video Communications by 22.2% in the third quarter. Banque Cantonale Vaudoise now owns 5,253 shares of the company’s stock worth $366,000 after buying an additional 956 shares in the last quarter. Finally, Quest Partners LLC grew its position in Zoom Video Communications by 28.2% during the third quarter. Quest Partners LLC now owns 9,214 shares of the company’s stock valued at $643,000 after acquiring an additional 2,029 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total transaction of $13,733,895.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kelly Steckelberg sold 14,151 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $68.12, for a total transaction of $963,966.12. Following the completion of the transaction, the chief financial officer now owns 140,427 shares in the company, valued at approximately $9,565,887.24. The trade was a 9.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 367,108 shares of company stock valued at $26,796,191 in the last three months. 10.78% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ZM shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Wedbush started coverage on Zoom Video Communications in a report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price objective on the stock. Stifel Nicolaus increased their target price on Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday. UBS Group raised their price target on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Sanford C. Bernstein boosted their price objective on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and an average price target of $85.20.

Zoom Video Communications Stock Down 6.3 %

ZM opened at $83.41 on Wednesday. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The stock has a market cap of $25.67 billion, a PE ratio of 29.90, a PEG ratio of 7.33 and a beta of -0.05. The business has a 50 day moving average of $74.16 and a 200-day moving average of $65.89.

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.