Grant Private Wealth Management Inc Takes $934,000 Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Grant Private Wealth Management Inc acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,450 shares of the company's stock, valued at approximately $934,000. Zoom Video Communications comprises 1.0% of Grant Private Wealth Management Inc's investment portfolio, making the stock its 24th largest position.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Zoom Video Communications in the fourth quarter valued at approximately $751,908,000. State Street Corp grew its stake in Zoom Video Communications by 2.3% during the third quarter. State Street Corp now owns 6,106,293 shares of the company's stock valued at $425,853,000 after acquiring an additional 134,559 shares in the last quarter. Geode Capital Management LLC increased its holdings in Zoom Video Communications by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock worth $377,429,000 after acquiring an additional 28,725 shares during the period. Two Sigma Advisers LP lifted its stake in Zoom Video Communications by 9.8% in the 3rd quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company's stock worth $101,032,000 after purchasing an additional 128,800 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Zoom Video Communications by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,367,055 shares of the company's stock valued at $111,565,000 after purchasing an additional 69,612 shares during the period. 66.54% of the stock is owned by institutional investors.

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Zoom Video Communications Price Performance

ZM traded down $5.50 during trading on Friday, hitting $67.75. 4,687,833 shares of the stock traded hands, compared to its average volume of 3,097,262. The firm has a 50-day moving average of $79.13 and a 200 day moving average of $78.42. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The firm has a market capitalization of $20.68 billion, a P/E ratio of 22.58, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ZM. Scotiabank decreased their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating on the stock in a report on Monday, March 17th. Morgan Stanley raised their price target on Zoom Video Communications from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Wednesday, December 18th. Needham & Company LLC reissued a "hold" rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Barclays lowered their target price on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group raised shares of Zoom Video Communications from a "hold" rating to a "buy" rating and boosted their price target for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $89.33.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $77.86, for a total transaction of $192,703.50. Following the sale, the director now directly owns 169,452 shares of the company's stock, valued at approximately $13,193,532.72. The trade was a 1.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric S. Yuan sold 33,751 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $78.69, for a total value of $2,655,866.19. Following the completion of the transaction, the chief executive officer now directly owns 34,703 shares of the company's stock, valued at $2,730,779.07. This represents a 49.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 371,746 shares of company stock worth $29,689,595 in the last 90 days. Company insiders own 10.78% of the company's stock.

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.