Caprock Group LLC Takes $288,000 Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Caprock Group LLC acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,533 shares of the company's stock, valued at approximately $288,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP grew its stake in shares of Zoom Video Communications by 82.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company's stock valued at $1,994,000 after buying an additional 12,890 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Zoom Video Communications during the 2nd quarter worth about $763,000. HighTower Advisors LLC increased its position in Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company's stock worth $4,429,000 after purchasing an additional 52,039 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Zoom Video Communications during the 4th quarter worth approximately $1,072,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Zoom Video Communications by 15.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company's stock valued at $87,713,000 after buying an additional 167,618 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,551 shares of the firm's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $131,741.94. Following the sale, the chief accounting officer now directly owns 3,251 shares of the company's stock, valued at approximately $276,139.94. This trade represents a 32.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 83,333 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total value of $6,958,305.50. The disclosure for this sale can be found here. Insiders have sold a total of 382,242 shares of company stock worth $31,230,938 in the last 90 days. 10.78% of the stock is owned by insiders.

Zoom Video Communications Trading Up 1.1 %

NASDAQ ZM traded up $0.98 on Monday, reaching $87.10. The stock had a trading volume of 2,347,306 shares, compared to its average volume of 2,237,835. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The business has a 50 day moving average price of $83.18 and a 200 day moving average price of $74.55. The company has a market capitalization of $26.70 billion and a price-to-earnings ratio of 29.03.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ZM shares. The Goldman Sachs Group lifted their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Sanford C. Bernstein lifted their price target on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 26th. Wedbush assumed coverage on shares of Zoom Video Communications in a research report on Thursday, October 17th. They issued an "outperform" rating and a $85.00 price objective for the company. Mizuho lifted their target price on Zoom Video Communications from $90.00 to $105.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 26th. Finally, Barclays increased their price target on Zoom Video Communications from $70.00 to $85.00 and gave the company an "equal weight" rating in a report on Wednesday, November 27th. Sixteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of "Hold" and a consensus price target of $89.10.

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.