Strategic Financial Concepts LLC Acquires New Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Strategic Financial Concepts LLC bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,178 shares of the company's stock, valued at approximately $831,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC increased its holdings in Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company's stock worth $867,906,000 after purchasing an additional 2,395,396 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Zoom Video Communications in the third quarter worth $62,038,000. Assenagon Asset Management S.A. raised its holdings in Zoom Video Communications by 126.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company's stock valued at $102,119,000 after acquiring an additional 699,625 shares in the last quarter. Nordea Investment Management AB boosted its stake in Zoom Video Communications by 202.8% during the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company's stock valued at $64,054,000 after acquiring an additional 521,778 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Zoom Video Communications by 6,614.6% during the 3rd quarter. International Assets Investment Management LLC now owns 499,966 shares of the company's stock worth $34,868,000 after acquiring an additional 492,520 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $307,312.92. Following the transaction, the insider now directly owns 107,826 shares of the company's stock, valued at $9,158,740.44. This represents a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 382,242 shares of company stock valued at $31,230,938. Company insiders own 10.78% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ZM shares. Evercore ISI upgraded shares of Zoom Video Communications from an "in-line" rating to an "outperform" rating and upped their target price for the company from $70.00 to $115.00 in a research note on Tuesday, November 26th. Stifel Nicolaus upped their price objective on Zoom Video Communications from $70.00 to $90.00 and gave the company a "hold" rating in a research note on Tuesday, November 26th. Royal Bank of Canada reiterated an "outperform" rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Citigroup dropped their price target on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, Hsbc Global Res upgraded Zoom Video Communications to a "strong-buy" rating in a research note on Tuesday, November 26th. Sixteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Zoom Video Communications presently has an average rating of "Hold" and an average target price of $89.48.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM traded down $1.72 during midday trading on Thursday, reaching $83.45. 2,772,460 shares of the company's stock were exchanged, compared to its average volume of 2,238,573. The company's 50 day simple moving average is $83.28 and its two-hundred day simple moving average is $75.85. The firm has a market capitalization of $25.58 billion and a PE ratio of 27.82. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80.

Zoom Video Communications Company 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.