Chicago Partners Investment Group LLC Makes New $315,000 Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Chicago Partners Investment Group LLC acquired a new position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,946 shares of the company's stock, valued at approximately $315,000.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ZM shares. Royal Bank of Canada reissued an "outperform" rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Tuesday, November 26th. UBS Group boosted 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 note on Tuesday, November 26th. Barclays boosted 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. Jefferies Financial Group raised shares of Zoom Video Communications from a "hold" rating to a "buy" rating and boosted their target price for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Zoom Video Communications in a research note on Friday, January 10th. Sixteen 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 MarketBeat, Zoom Video Communications currently has an average rating of "Hold" and a consensus target price of $89.10.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 83,333 shares of Zoom Video Communications stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total transaction of $6,958,305.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $307,312.92. Following the sale, the insider now owns 107,826 shares in the company, valued at approximately $9,158,740.44. This trade represents a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 382,242 shares of company stock worth $31,230,938 in the last ninety days. Insiders own 10.78% of the company's stock.

Zoom Video Communications Trading Down 0.7 %

ZM traded down $0.57 during trading on Friday, hitting $86.12. The stock had a trading volume of 1,826,091 shares, compared to its average volume of 2,158,431. The firm has a market cap of $26.39 billion and a PE ratio of 28.71. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The company has a 50 day simple moving average of $83.18 and a 200-day simple moving average of $74.33.

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.