Tri Ri Asset Management Corp Makes New Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Tri Ri Asset Management Corp bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 38,045 shares of the company’s stock, valued at approximately $2,653,000. Zoom Video Communications makes up about 1.4% of Tri Ri Asset Management Corp’s portfolio, making the stock its 27th largest position.

Several other institutional investors have also recently made changes to their positions in ZM. Sanctuary Advisors LLC lifted its position in Zoom Video Communications by 22.1% during the third quarter. Sanctuary Advisors LLC now owns 15,020 shares of the company’s stock valued at $1,047,000 after purchasing an additional 2,714 shares during the last quarter. Hohimer Wealth Management LLC raised its stake in shares of Zoom Video Communications by 0.5% during the third quarter. Hohimer Wealth Management LLC now owns 49,538 shares of the company’s stock valued at $3,455,000 after acquiring an additional 260 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Zoom Video Communications by 32.1% in the 3rd quarter. Toronto Dominion Bank now owns 31,965 shares of the company’s stock worth $2,229,000 after buying an additional 7,768 shares during the period. Geode Capital Management LLC increased its position in Zoom Video Communications by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock valued at $320,177,000 after purchasing an additional 184,518 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in Zoom Video Communications by 0.9% in the third quarter. Public Employees Retirement System of Ohio now owns 96,915 shares of the company’s stock worth $6,759,000 after buying an additional 817 shares during the period. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Trading Up 0.5 %

Shares of NASDAQ:ZM opened at $87.05 on Friday. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The business has a 50 day moving average of $78.10 and a two-hundred day moving average of $67.61. The company has a market capitalization of $26.68 billion, a PE ratio of 29.02, a PEG ratio of 5.46 and a beta of -0.03.

Insider Activity at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,551 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the transaction, the chief accounting officer now directly owns 3,251 shares of the company’s stock, valued at approximately $276,139.94. This trade represents a 32.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kelly Steckelberg sold 8,901 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $66.47, for a total value of $591,649.47. The disclosure for this sale can be found here. Insiders sold a total of 437,414 shares of company stock worth $32,958,564 in the last 90 days. Corporate insiders own 10.78% of the company’s stock.

Analyst Ratings Changes

ZM has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on Zoom Video Communications from $60.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, November 26th. UBS Group raised their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group raised their price target on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Benchmark lifted their price target on shares of Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Mizuho upped their price objective on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $85.19.

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.