Utah Retirement Systems Has $3.56 Million Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Utah Retirement Systems increased its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,620 shares of the company’s stock after acquiring an additional 2,088 shares during the quarter. Utah Retirement Systems’ holdings in Zoom Video Communications were worth $3,560,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ZM. Adero Partners LLC raised its stake in Zoom Video Communications by 2.4% during the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock worth $450,000 after buying an additional 129 shares during the period. GAMMA Investing LLC boosted its stake in shares of Zoom Video Communications by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after buying an additional 164 shares during the last quarter. Principal Securities Inc. grew its stake in Zoom Video Communications by 26.9% in the fourth quarter. Principal Securities Inc. now owns 783 shares of the company’s stock valued at $64,000 after purchasing an additional 166 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Zoom Video Communications by 4.3% in the fourth 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 in the last quarter. Finally, Global X Japan Co. Ltd. grew its position in shares of Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after acquiring an additional 190 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Stock Down 0.4 %

Shares of ZM stock opened at $77.25 on Friday. The company has a market cap of $23.58 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. The firm has a 50 day moving average of $73.73 and a 200-day moving average of $78.83. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ZM shares. Morgan Stanley decreased their target price on Zoom Video Communications from $96.00 to $73.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Mizuho dropped their price target on shares of Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company cut their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $87.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Finally, Benchmark restated a “buy” rating and issued a $97.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $85.90.

Insider Activity at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 83,332 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the 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 sale, the director now owns 169,452 shares of the company’s stock, valued at approximately $13,193,532.72. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 245,372 shares of company stock valued at $19,127,800 in the last three months. Corporate 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.