Harvest Fund Management Co. Ltd Invests $366,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Harvest Fund Management Co. Ltd bought a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) in the fourth quarter, HoldingsChannel.com reports. The fund bought 4,501 shares of the company’s stock, valued at approximately $366,000.

A number of other hedge funds have also modified their holdings of ZM. Quest Partners LLC raised its holdings in shares of Zoom Video Communications by 28.2% in the 3rd quarter. Quest Partners LLC now owns 9,214 shares of the company’s stock worth $643,000 after buying an additional 2,029 shares in the last quarter. Banque Cantonale Vaudoise increased its holdings in Zoom Video Communications by 22.2% during the 3rd quarter. Banque Cantonale Vaudoise now owns 5,253 shares of the company’s stock valued at $366,000 after purchasing an additional 956 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Zoom Video Communications during the 3rd quarter valued at $443,000. Primecap Management Co. CA increased its holdings in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Zoom Video Communications by 6.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,297,443 shares of the company’s stock valued at $90,484,000 after purchasing an additional 78,940 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Shane Crehan sold 1,412 shares of Zoom Video Communications stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the completion of the sale, the chief accounting officer now directly owns 5,404 shares in the company, valued at $425,240.76. This represents a 20.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 369,271 shares of company stock worth $29,496,892. Corporate insiders own 10.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barclays dropped their price target on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Mizuho raised their price target on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Scotiabank dropped their price target on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating for the company in a report on Monday, March 17th. UBS Group decreased their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Finally, Stifel Nicolaus decreased their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. Fifteen 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $89.33.

Zoom Video Communications Trading Down 0.1 %

ZM stock opened at $75.97 on Friday. The business’s 50-day moving average price is $79.98 and its two-hundred day moving average price is $77.82. The firm 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. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

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.