GeoWealth Management LLC Raises Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

GeoWealth Management LLC lifted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 4,220.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,154 shares of the company's stock after purchasing an additional 9,919 shares during the period. GeoWealth Management LLC's holdings in Zoom Video Communications were worth $829,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in ZM. MML Investors Services LLC increased its holdings in shares of Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company's stock worth $655,000 after buying an additional 132 shares during the period. Sanctuary Advisors LLC increased its stake in Zoom Video Communications by 22.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,020 shares of the company's stock worth $1,047,000 after purchasing an additional 2,714 shares during the period. Tri Ri Asset Management Corp bought a new stake in Zoom Video Communications in the third quarter valued at approximately $2,653,000. Franklin Resources Inc. boosted its stake in shares of Zoom Video Communications by 53.6% during the third quarter. Franklin Resources Inc. now owns 331,782 shares of the company's stock valued at $22,537,000 after purchasing an additional 115,837 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in shares of Zoom Video Communications by 48.1% in the third quarter. Retirement Systems of Alabama now owns 903,797 shares of the company's stock worth $63,031,000 after purchasing an additional 293,375 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 83,332 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Velchamy Sankarlingam sold 11,839 shares of Zoom Video Communications stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total value of $851,342.49. Following the completion of the transaction, the insider now owns 125,529 shares of the company's stock, valued at approximately $9,026,790.39. This represents a 8.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 242,897 shares of company stock valued at $18,941,111 in the last quarter. 10.78% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ZM has been the subject of several analyst reports. Mizuho dropped their price target on shares of Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Citigroup cut their target price on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 18th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Stifel Nicolaus cut their price objective on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a research report on Tuesday, February 25th. Finally, Benchmark reissued a "buy" rating and set a $97.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $85.90.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock traded up $2.66 during trading on Thursday, reaching $75.49. 1,910,923 shares of the stock traded hands, compared to its average volume of 2,542,658. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The business has a fifty day simple moving average of $74.58 and a two-hundred day simple moving average of $78.53. The company has a market capitalization of $23.04 billion, a price-to-earnings ratio of 25.16, a P/E/G ratio of 5.48 and a beta of 0.67.

Zoom Video Communications 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.