Avory & Company LLC Has $24.69 Million Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Avory & Company LLC grew its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 302,590 shares of the company's stock after purchasing an additional 5,840 shares during the period. Zoom Video Communications makes up about 13.8% of Avory & Company LLC's portfolio, making the stock its 2nd biggest position. Avory & Company LLC owned about 0.10% of Zoom Video Communications worth $24,694,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. FMR LLC lifted its stake in Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company's stock valued at $867,906,000 after purchasing an additional 2,395,396 shares during the last quarter. State Street Corp increased its holdings in shares of Zoom Video Communications by 2.3% during the third quarter. State Street Corp now owns 6,106,293 shares of the company's stock worth $425,853,000 after buying an additional 134,559 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Zoom Video Communications by 4.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company's stock valued at $382,188,000 after acquiring an additional 233,241 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Zoom Video Communications by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company's stock valued at $320,177,000 after acquiring an additional 184,518 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in Zoom Video Communications by 9.8% during the 3rd quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company's stock worth $101,032,000 after acquiring an additional 128,800 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

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Analysts Set New Price Targets

ZM has been the subject of several research reports. JMP Securities reiterated a "market perform" rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Benchmark reiterated a "buy" rating and issued a $97.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Morgan Stanley boosted their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 18th. Citigroup decreased their price target on shares of Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating for the company in a research report on Tuesday, February 18th. Finally, Evercore ISI upgraded shares of Zoom Video Communications from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $70.00 to $115.00 in a report on Tuesday, November 26th. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $90.05.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM traded down $2.51 during mid-day trading on Monday, hitting $73.47. The company had a trading volume of 3,218,399 shares, compared to its average volume of 2,765,065. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The firm has a fifty day moving average price of $81.31 and a 200 day moving average price of $77.61. The company has a market capitalization of $22.52 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.

Insider Buying and Selling at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the completion of the sale, the insider now owns 107,826 shares of the company's stock, valued at approximately $9,158,740.44. This trade represents a 3.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Shane Crehan sold 1,551 shares of the company's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $131,741.94. Following the transaction, the chief accounting officer now owns 3,251 shares in the company, valued at approximately $276,139.94. The trade was a 32.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 374,440 shares of company stock valued at $29,935,946. Corporate 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.