Avanza Fonder AB Buys Shares of 19,150 Zoom Video Communications, Inc. (NASDAQ:ZM)

Avanza Fonder AB acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,150 shares of the company's stock, valued at approximately $1,563,000.

Other hedge funds also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new position in shares of Zoom Video Communications in the 3rd quarter valued at $37,000. Allworth Financial LP boosted its position in Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company's stock valued at $41,000 after purchasing an additional 180 shares in the last quarter. Venturi Wealth Management LLC grew its stake in Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company's stock valued at $53,000 after purchasing an additional 274 shares during the last quarter. GAMMA Investing LLC raised its holdings in Zoom Video Communications by 27.1% in the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company's stock worth $63,000 after purchasing an additional 164 shares in the last quarter. Finally, True Wealth Design LLC lifted its position in shares of Zoom Video Communications by 10,763.6% during the third quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock valued at $83,000 after buying an additional 1,184 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 35,722 shares of the firm's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $71.45, for a total transaction of $2,552,336.90. Following the sale, the chief executive officer now directly owns 57,371 shares in the company, valued at $4,099,157.95. This trade represents a 38.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan Chadwick sold 25,000 shares of the company's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total value of $2,008,250.00. Following the completion of the transaction, the director now directly owns 1,514 shares of the company's stock, valued at $121,619.62. The trade was a 94.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 525,703 shares of company stock valued at $41,265,285. 10.78% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ZM shares. UBS Group increased their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Cantor Fitzgerald started coverage on Zoom Video Communications in a research report on Friday. They issued a "neutral" rating and a $87.00 price objective for the company. Jefferies Financial Group upgraded Zoom Video Communications from a "hold" rating to a "buy" rating and boosted their target price for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. Wells Fargo & Company upgraded Zoom Video Communications from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Finally, Piper Sandler upped their price objective on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Sixteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $89.10.

Zoom Video Communications Trading Down 1.7 %

Shares of NASDAQ ZM traded down $1.37 during trading on Friday, reaching $78.07. 2,923,674 shares of the company traded hands, compared to its average volume of 2,050,697. The stock has a market cap of $23.93 billion, a P/E ratio of 26.02, a PEG ratio of 4.97 and a beta of -0.01. The firm's fifty day simple moving average is $82.98 and its 200 day simple moving average is $71.73. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80.

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.