Glenmede Trust Co. NA Purchases 13,513 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Glenmede Trust Co. NA increased its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 5.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 264,071 shares of the company’s stock after acquiring an additional 13,513 shares during the period. Glenmede Trust Co. NA owned about 0.09% of Zoom Video Communications worth $18,416,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications during the 3rd quarter valued at about $37,000. Innealta Capital LLC purchased a new stake in Zoom Video Communications in the second quarter worth approximately $33,000. Allworth Financial LP grew its position in Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Zoom Video Communications in the 2nd quarter worth approximately $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Zoom Video Communications during the 2nd quarter valued at $41,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Zoom Video Communications news, CFO Kelly Steckelberg sold 8,901 shares of Zoom Video Communications stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $66.47, for a total value of $591,649.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Aparna Bawa sold 880 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $68.09, for a total transaction of $59,919.20. Following the sale, the chief operating officer now owns 2,809 shares in the company, valued at $191,264.81. This represents a 23.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 367,108 shares of company stock worth $26,796,191 in the last 90 days. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Stock Performance

ZM stock opened at $85.36 on Friday. The company’s fifty day moving average price is $74.92 and its 200-day moving average price is $66.16. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The company has a market capitalization of $26.27 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 5.69 and a beta of -0.05.

Wall Street Analyst Weigh In

Several brokerages recently commented on ZM. Robert W. Baird cut their price objective on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 22nd. Mizuho upped their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $70.00 to $115.00 in a report on Tuesday. Wedbush began coverage on shares of Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price for the company. Finally, Stifel Nicolaus increased their price target on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Zoom Video Communications has an average rating of “Hold” and a consensus 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.