Capital Wealth Alliance LLC Takes $502,000 Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Capital Wealth Alliance LLC acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,147 shares of the company's stock, valued at approximately $502,000.

A number of other large investors have also made changes to their positions in the stock. Global X Japan Co. Ltd. raised its position in Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after purchasing an additional 190 shares in the last quarter. Avior Wealth Management LLC raised its position in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after purchasing an additional 265 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in Zoom Video Communications in the fourth quarter worth about $39,000. Truvestments Capital LLC acquired a new position in Zoom Video Communications in the third quarter worth about $37,000. Finally, Allworth Financial LP raised its position in Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company's stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Zoom Video Communications Stock Down 0.4 %

Shares of NASDAQ:ZM traded down $0.34 during midday trading on Friday, hitting $84.82. The stock had a trading volume of 882,083 shares, compared to its average volume of 2,191,942. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The business's 50-day simple moving average is $83.31 and its 200-day simple moving average is $75.03. The company has a market cap of $26.00 billion and a P/E ratio of 28.31.

Insider Activity at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,412 shares of the firm's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the completion of the transaction, the chief accounting officer now directly owns 5,404 shares of the company's stock, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 382,242 shares of company stock valued at $31,230,938. 10.78% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on ZM. Cantor Fitzgerald started coverage on shares of Zoom Video Communications in a report on Friday, January 17th. They set a "neutral" rating and a $87.00 price objective for the company. UBS Group increased their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Barclays raised their target price on shares of Zoom Video Communications from $70.00 to $85.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 27th. Wells Fargo & Company raised shares of Zoom Video Communications from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Zoom Video Communications in a research note on Friday, January 10th. Sixteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $89.10.

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.