Mission Creek Capital Partners Inc. Buys New Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Mission Creek Capital Partners Inc. bought a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,955 shares of the company's stock, valued at approximately $812,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Global X Japan Co. Ltd. increased its holdings in shares of Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after buying an additional 190 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after buying an additional 265 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after buying an additional 258 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Zoom Video Communications during the 4th quarter worth $39,000. Finally, MRP Capital Investments LLC increased its holdings in shares of Zoom Video Communications by 500.0% during the 4th quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock worth $49,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

Insiders Place Their Bets

In related news, insider Velchamy Sankarlingam sold 11,839 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49. Following the completion of the transaction, the insider now directly owns 125,529 shares in the company, valued at $9,026,790.39. This represents a 8.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Aparna Bawa sold 16,099 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total value of $1,168,626.41. Following the transaction, the chief operating officer now owns 1,978 shares of the company's stock, valued at approximately $143,583.02. The trade was a 89.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 242,897 shares of company stock valued at $18,941,111 over the last quarter. Insiders own 10.78% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ZM. Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Morgan Stanley lowered their price target on Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $87.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Citigroup lowered their price target on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating for the company in a report on Tuesday, February 18th. Finally, Rosenblatt Securities lowered their price target on Zoom Video Communications from $95.00 to $90.00 and set a "buy" rating for the company in a report on Thursday. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $85.90.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $76.03 on Monday. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The company's 50-day simple moving average is $74.20 and its 200-day simple moving average is $78.75. The stock has a market capitalization of $23.21 billion, a price-to-earnings ratio of 25.34, a PEG 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.

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