Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Atlas Capital Advisors Inc.

Atlas Capital Advisors Inc. raised its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 358.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,198 shares of the company's stock after acquiring an additional 8,754 shares during the quarter. Atlas Capital Advisors Inc.'s holdings in Zoom Video Communications were worth $914,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Grant Private Wealth Management Inc acquired a new stake in shares of Zoom Video Communications in the 4th quarter worth approximately $934,000. Motley Fool Asset Management LLC grew its holdings in Zoom Video Communications by 12.5% in the fourth quarter. Motley Fool Asset Management LLC now owns 13,939 shares of the company's stock valued at $1,138,000 after purchasing an additional 1,552 shares during the last quarter. World Investment Advisors purchased a new position in shares of Zoom Video Communications in the fourth quarter valued at $240,000. Westpac Banking Corp raised its stake in shares of Zoom Video Communications by 10.6% during the 4th quarter. Westpac Banking Corp now owns 26,571 shares of the company's stock worth $2,168,000 after buying an additional 2,538 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Zoom Video Communications in the 4th quarter worth about $8,447,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of Zoom Video Communications from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. UBS Group lowered their target price on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Stifel Nicolaus cut their price target on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. Barclays decreased their price objective on 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, Rosenblatt Securities reissued a "buy" rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Fifteen 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $89.33.

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Zoom Video Communications Price Performance

NASDAQ ZM traded down $1.16 during mid-day trading on Tuesday, hitting $66.90. The company's stock had a trading volume of 1,528,698 shares, compared to its average volume of 2,615,688. The firm has a market capitalization of $20.42 billion, a P/E ratio of 22.30, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The stock's fifty day simple moving average is $78.85 and its two-hundred day simple moving average is $78.51.

Insider Activity

In other news, Director Santiago Subotovsky sold 2,475 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $77.86, for a total transaction of $192,703.50. Following the completion of the sale, the director now directly owns 169,452 shares in the company, valued at $13,193,532.72. This trade represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 371,746 shares of company stock valued at $29,689,595. Company insiders own 10.78% of the company's stock.

About Zoom Video Communications

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.