EP Wealth Advisors LLC Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

EP Wealth Advisors LLC acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,761 shares of the company's stock, valued at approximately $611,000.

Other hedge funds also recently modified their holdings of the company. FMR LLC boosted its position in Zoom Video Communications by 23.8% in the third 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 raised its stake in shares of Zoom Video Communications by 2.3% in the third 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 period. AQR Capital Management LLC raised its stake in shares of Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company's stock valued at $337,233,000 after buying an additional 2,520,987 shares during the period. Pacer Advisors Inc. raised its stake in shares of Zoom Video Communications by 4.4% in the third 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 period. Finally, Acadian Asset Management LLC raised its stake in shares of Zoom Video Communications by 60.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company's stock valued at $290,153,000 after purchasing an additional 1,855,679 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock traded up $0.46 during trading hours on Thursday, hitting $87.05. The company's stock had a trading volume of 2,072,713 shares, compared to its average volume of 3,338,969. The business has a 50 day moving average price of $77.71 and a two-hundred day moving average price of $67.47. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The company has a market cap of $26.68 billion, a PE ratio of 29.02, a PEG ratio of 5.29 and a beta of -0.03.

Analyst Ratings Changes

Several equities analysts recently commented on ZM shares. Robert W. Baird reduced their target price on Zoom Video Communications from $84.00 to $77.00 and set an "outperform" rating for the company in a research report on Thursday, August 22nd. Scotiabank upgraded Zoom Video Communications to a "hold" rating in a research report on Tuesday, November 19th. Royal Bank of Canada restated an "outperform" rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft boosted their target price on Zoom Video Communications from $71.00 to $75.00 and gave the stock a "hold" rating in a research report on Friday, August 23rd. Finally, The Goldman Sachs Group boosted their target price on Zoom Video Communications from $72.00 to $86.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $85.19.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CAO Shane Crehan sold 1,551 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $131,741.94. Following the transaction, the chief accounting officer now directly owns 3,251 shares in the company, valued at $276,139.94. This represents a 32.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 3,618 shares of the business's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $307,312.92. Following the completion of the transaction, the insider now directly owns 107,826 shares of the company's stock, valued at approximately $9,158,740.44. The trade was a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 437,414 shares of company stock worth $32,958,564 over the last ninety days. Company insiders own 10.78% of the company's stock.

Zoom Video Communications Company 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.