BNP Paribas Acquires New Shares in Zoom Video Communications, Inc. (NASDAQ:ZM)

BNP Paribas bought a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 600 shares of the company’s stock, valued at approximately $50,000.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Zoom Video Communications in the 4th quarter valued at about $751,908,000. Altshuler Shaham Ltd increased its position in shares of Zoom Video Communications by 285.9% in the fourth quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company’s stock worth $167,813,000 after purchasing an additional 1,523,480 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Zoom Video Communications by 24.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after purchasing an additional 1,247,717 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Zoom Video Communications during the fourth quarter valued at approximately $99,471,000. Finally, Contrarius Group Holdings Ltd bought a new stake in Zoom Video Communications during the fourth quarter valued at approximately $72,854,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analyst Ratings Changes

ZM has been the topic of several research reports. Wells Fargo & Company lowered their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. UBS Group cut their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Benchmark reissued a “buy” rating and set a $97.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Finally, Citigroup decreased their price target on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Fifteen investment 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $85.90.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock opened at $78.23 on Tuesday. The company has a 50-day simple moving average of $73.89 and a two-hundred day simple moving average of $79.09. The stock has a market capitalization of $23.88 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Insider Activity at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 11,839 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total transaction of $851,342.49. Following the sale, the insider now owns 125,529 shares of the company’s stock, valued at $9,026,790.39. This trade represents a 8.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric S. Yuan sold 75,531 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 162,040 shares of company stock valued at $11,937,915. 10.78% of the stock is owned by corporate insiders.

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.