Illumine Investment Management LLC Buys New Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Illumine Investment Management LLC purchased a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,447 shares of the company's stock, valued at approximately $1,995,000. Zoom Video Communications comprises about 1.6% of Illumine Investment Management LLC's holdings, making the stock its 21st biggest position.

Other institutional investors have also modified their holdings of the company. Raymond James & Associates grew its stake in Zoom Video Communications by 0.7% during the 3rd quarter. Raymond James & Associates now owns 53,089 shares of the company's stock worth $3,702,000 after buying an additional 383 shares during the last quarter. Allworth Financial LP raised its position in shares of Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company's stock valued at $41,000 after purchasing an additional 180 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Zoom Video Communications by 93.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,867 shares of the company's stock worth $2,564,000 after purchasing an additional 17,831 shares in the last quarter. PFG Investments LLC purchased a new stake in Zoom Video Communications during the 3rd quarter worth approximately $228,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Zoom Video Communications by 558.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 74,492 shares of the company's stock valued at $5,195,000 after purchasing an additional 63,181 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors.

Zoom Video Communications Stock Up 0.8 %

ZM stock traded up $0.62 during mid-day trading on Tuesday, hitting $74.93. 3,702,882 shares of the company were exchanged, compared to its average volume of 2,736,513. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The firm has a market capitalization of $22.97 billion and a P/E ratio of 24.98. The business has a fifty day simple moving average of $82.08 and a 200-day simple moving average of $77.15.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CAO Shane Crehan sold 1,551 shares of the business's 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric S. Yuan sold 83,333 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total transaction of $6,958,305.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 382,242 shares of company stock worth $31,230,938. 10.78% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Scotiabank raised Zoom Video Communications to a "hold" rating in a research report on Tuesday, November 19th. Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Jefferies Financial Group upgraded Zoom Video Communications from a "hold" rating to a "buy" rating and upped their target price for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. JMP Securities reiterated a "market perform" rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Finally, Citigroup reduced their price objective on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 18th. Fifteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $90.05.

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.