Choreo LLC Purchases New Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Choreo LLC bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,724 shares of the company's stock, valued at approximately $308,000.

Several other institutional investors have also recently made changes to their positions in ZM. Avior Wealth Management LLC increased its holdings in shares of 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 during the period. Truvestments Capital LLC bought a new position in shares of Zoom Video Communications in the third quarter worth $37,000. Geneos Wealth Management Inc. bought a new position in shares of Zoom Video Communications in the fourth quarter worth $39,000. Allworth Financial LP increased its holdings in shares of 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 during the period. Finally, Venturi Wealth Management LLC increased its holdings in shares of Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company's stock worth $53,000 after purchasing an additional 274 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan Chadwick sold 25,000 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the completion of the sale, the director now owns 1,514 shares of the company's stock, valued at $121,619.62. This trade represents a 94.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 382,242 shares of company stock worth $31,230,938. Company insiders own 10.78% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ZM shares. Jefferies Financial Group raised shares of Zoom Video Communications from a "hold" rating to a "buy" rating and upped their price target for the stock from $85.00 to $100.00 in a report on Thursday, December 19th. Barclays upped their price target on shares of Zoom Video Communications from $70.00 to $85.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 27th. Morgan Stanley increased their target price on Zoom Video Communications from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 18th. Royal Bank of Canada reissued an "outperform" rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Finally, Bank of America increased their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Sixteen investment 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's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $89.10.

Zoom Video Communications Stock Down 0.1 %

Shares of Zoom Video Communications stock traded down $0.06 during trading on Monday, reaching $85.10. 1,435,757 shares of the stock were exchanged, compared to its average volume of 2,158,431. The stock's fifty day moving average is $83.29 and its 200 day moving average is $75.41. The firm has a market cap of $26.08 billion and a price-to-earnings ratio of 28.37. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year 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.