Corient Private Wealth LLC Buys 44,109 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Corient Private Wealth LLC raised its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 265.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,750 shares of the company's stock after purchasing an additional 44,109 shares during the quarter. Corient Private Wealth LLC's holdings in Zoom Video Communications were worth $4,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Quest Partners LLC raised its holdings in shares of Zoom Video Communications by 28.2% in the 3rd quarter. Quest Partners LLC now owns 9,214 shares of the company's stock worth $643,000 after purchasing an additional 2,029 shares during the period. Banque Cantonale Vaudoise raised its stake in shares of Zoom Video Communications by 22.2% in the third quarter. Banque Cantonale Vaudoise now owns 5,253 shares of the company's stock valued at $366,000 after buying an additional 956 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Zoom Video Communications in the third quarter valued at $443,000. Primecap Management Co. CA lifted its position in shares of Zoom Video Communications by 0.7% during the 3rd quarter. Primecap Management Co. CA now owns 1,289,150 shares of the company's stock valued at $89,905,000 after buying an additional 8,625 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Zoom Video Communications by 6.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,297,443 shares of the company's stock worth $90,484,000 after acquiring an additional 78,940 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

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Zoom Video Communications Stock Performance

NASDAQ:ZM traded down $0.35 during mid-day trading on Wednesday, reaching $77.78. The stock had a trading volume of 1,314,347 shares, compared to its average volume of 3,029,034. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The firm has a 50 day moving average price of $79.95 and a two-hundred day moving average price of $78.11. The stock has a market capitalization of $23.74 billion, a P/E ratio of 25.93, a P/E/G ratio of 5.48 and a beta of 0.26.

Insider Activity at Zoom Video Communications

In other news, COO Aparna Bawa sold 9,317 shares of the company's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the transaction, the chief operating officer now directly owns 14,053 shares of the company's stock, valued at approximately $1,105,830.57. This represents a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 83,332 shares of the stock in a transaction dated 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. In the last 90 days, insiders have sold 369,271 shares of company stock valued at $29,496,892. Insiders own 10.78% of the company's stock.

Wall Street Analyst Weigh In

ZM has been the topic of a number of recent research reports. Wells Fargo & Company upgraded shares of Zoom Video Communications from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Jefferies Financial Group raised Zoom Video Communications from a "hold" rating to a "buy" rating and raised their price target for the stock from $85.00 to $100.00 in a report on Thursday, December 19th. Cantor Fitzgerald reiterated a "neutral" rating and set a $87.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Hsbc Global Res upgraded Zoom Video Communications to a "strong-buy" rating in a research note on Tuesday, November 26th. Finally, Benchmark reiterated a "buy" rating and set a $97.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen 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. Based on data from MarketBeat, Zoom Video Communications presently has an average rating of "Hold" and an average price target of $89.33.

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.