McAdam LLC Purchases New Shares in Zoom Video Communications, Inc. (NASDAQ:ZM)

McAdam LLC purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,028 shares of the company's stock, valued at approximately $410,000.

A number of other hedge funds have also recently added to or reduced their stakes in ZM. Avior Wealth Management LLC grew its position in Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after buying an additional 265 shares during the period. Geneos Wealth Management Inc. purchased a new stake in shares of Zoom Video Communications in the 4th quarter worth about $39,000. Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications during the third quarter valued at approximately $37,000. Allworth Financial LP boosted its stake 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 worth $41,000 after buying an additional 180 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company's stock worth $53,000 after buying an additional 274 shares during the period. Institutional investors and hedge funds own 66.54% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on ZM. Piper Sandler raised their price objective on Zoom Video Communications from $68.00 to $89.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. UBS Group boosted their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Morgan Stanley increased their price objective on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Wednesday, December 18th. Stifel Nicolaus increased their price target on Zoom Video Communications from $70.00 to $90.00 and gave the stock a "hold" rating in a report on Tuesday, November 26th. Finally, Hsbc Global Res upgraded shares of Zoom Video Communications to a "strong-buy" rating in a report on Tuesday, November 26th. Sixteen 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $89.10.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM traded up $0.70 during trading hours on Thursday, hitting $86.69. 1,549,424 shares of the stock were exchanged, compared to its average volume of 2,250,368. The company's 50 day moving average is $83.09 and its 200 day moving average is $74.05. The firm has a market capitalization of $26.57 billion and a P/E ratio of 28.90. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 9,317 shares of the company's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the transaction, the chief operating officer now directly owns 14,053 shares in the company, valued at $1,105,830.57. This represents a 39.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 83,333 shares of Zoom Video Communications stock in a transaction 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. Over the last ninety days, insiders sold 298,910 shares of company stock valued at $24,041,053. Insiders own 10.78% of the company's stock.

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.