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    Home » Truist Financial Corp. increases its stake in Zoom
    Market News

    Truist Financial Corp. increases its stake in Zoom

    Kritika MehtaBy Kritika MehtaJanuary 13, 2022No Comments2 Mins Read
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    According to its most recent filing with the U.S. Securities and Exchange Commission (SEC), Truist Financial Corp increased its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 17.2 percent in the third quarter. After purchasing 2,156 additional shares during the quarter, the fund now owns 14,718 shares of the company’s stock. As of its most recent SEC filing, Truist Financial Corp owned $3,848,000 worth of Zoom Video Communications stock.

    ZM stock

    Several research papers have been written about ZM. In a research report issued on Tuesday, November 23, 2021, Evercore ISI dropped their price target on Zoom Video Communications from $255.00 to $235.00 and gave the stock a “in-line” rating. In a research note issued on Tuesday, November 23, 2021. Mizuho lowered their price target on the ZM stock from $350.00 to $300.00 and assigned the stock a “buy” rating. On Thursday, December 30, 2021, Citic Securities published a research study on Zoom Video Communications. They gave the company a “buy” rating and a $260.00 target price.

    On Thursday, shares of Zoom Video Communications started at $170.65. Zoom Video Communications, Inc. Had a low of $164.90 and a high of $451.77 in the last year. The company’s 50-day and 200-day simple moving averages are at $207.81 and $281.75, respectively. The stock has a market capitalization of $50.85 billion, a price-to-earnings-growth ratio of 2.79. The ZM stock has a beta of -1.24. It has a P/E ratio of 45.39. The company’s price-to-earnings-growth ratio is 2.79.

    The ZM stock traded at $163.19 (down by 7.46 points), losing 4.37% at 12:48 p.m. ET in today’s trading session. The market valuation for the stock stood at $48.90 billion. The share volume traded for the ZM stock was 2,274,611, almost 50% of the average share volume of 4,297,577.

    The stock has been declining hard now. It will be intriguing to watch on latest updates for the stock since businesses are again shifting to Zoom after the advent of Omicron.

    ZM stock zoom
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    Kritika Mehta

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