9,070 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Acquired by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,070 shares of the company’s stock, valued at approximately $740,000.

A number of other institutional investors have also recently bought and sold shares of the business. Adero Partners LLC raised its position in shares of Zoom Video Communications by 2.4% in the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock valued at $450,000 after acquiring an additional 129 shares during the period. MML Investors Services LLC increased its stake in Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after purchasing an additional 132 shares in the last quarter. GAMMA Investing LLC raised its holdings in Zoom Video Communications by 27.1% in the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after purchasing an additional 164 shares during the period. Principal Securities Inc. boosted its position in shares of Zoom Video Communications by 26.9% during the fourth quarter. Principal Securities Inc. now owns 783 shares of the company’s stock worth $64,000 after purchasing an additional 166 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Zoom Video Communications by 4.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company’s stock valued at $330,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

ZM stock opened at $71.20 on Thursday. The stock has a market cap of $21.73 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. The company has a fifty day moving average price of $75.90 and a two-hundred day moving average price of $78.42. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ZM shares. Citigroup reduced their target price on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $100.00 in a report on Thursday, December 19th. Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Finally, Barclays lowered their price objective on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $86.62.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Santiago Subotovsky sold 2,475 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the completion of the transaction, the director now owns 169,452 shares in the company, valued at $13,193,532.72. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,459 shares of company stock valued at $16,014,017. Company insiders own 10.78% of the company’s stock.

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.