Hel Ved Capital Management Ltd acquired a new position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 31,265 shares of the company's stock, valued at approximately $2,552,000.
A number of other hedge funds have also bought and sold shares of the business. Resona Asset Management Co. Ltd. purchased a new stake in Zoom Video Communications during the fourth quarter valued at about $6,375,000. Integrated Quantitative Investments LLC purchased a new stake in Zoom Video Communications during the 4th quarter valued at about $392,000. Atlas Capital Advisors Inc. grew its position in Zoom Video Communications by 358.2% during the 4th quarter. Atlas Capital Advisors Inc. now owns 11,198 shares of the company's stock worth $914,000 after acquiring an additional 8,754 shares during the last quarter. Grant Private Wealth Management Inc purchased a new position in Zoom Video Communications in the 4th quarter worth approximately $934,000. Finally, Motley Fool Asset Management LLC grew its holdings in shares of Zoom Video Communications by 12.5% in the fourth quarter. Motley Fool Asset Management LLC now owns 13,939 shares of the company's stock worth $1,138,000 after purchasing an additional 1,552 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on ZM shares. Scotiabank dropped their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating for the company in a research report on Monday, March 17th. Jefferies Financial Group raised Zoom Video Communications from a "hold" rating to a "buy" rating and raised their target price for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. Rosenblatt Securities reaffirmed a "buy" rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday, March 19th. 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, Citigroup reduced 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. Fifteen 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, Zoom Video Communications currently has an average rating of "Hold" and a consensus price target of $89.33.
Get Our Latest Stock Analysis on ZM
Insiders Place Their Bets
In other news, insider Velchamy Sankarlingam sold 10,817 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 $851,189.73. Following the completion of the sale, the insider now owns 117,760 shares of the company's stock, valued at $9,266,534.40. This represents a 8.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric S. Yuan sold 75,531 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 337,995 shares of company stock valued at $27,033,729. 10.78% of the stock is owned by insiders.
Zoom Video Communications Stock Performance
Shares of ZM stock traded down $3.49 during mid-day trading on Thursday, hitting $68.35. The company's stock had a trading volume of 1,510,700 shares, compared to its average volume of 3,097,838. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The stock has a market cap of $20.86 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 5.48 and a beta of 0.67. The business has a 50-day moving average price of $77.39 and a 200 day moving average price of $78.40.
Zoom Video Communications Profile
(
Free Report)
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.
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