Northstar Asset Management Inc. Has $3.70 Million Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Northstar Asset Management Inc. lessened its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,385 shares of the company's stock after selling 3,480 shares during the period. Northstar Asset Management Inc.'s holdings in Zoom Video Communications were worth $3,704,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Adero Partners LLC lifted its stake in Zoom Video Communications by 2.4% in the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company's stock valued at $450,000 after buying an additional 129 shares during the last quarter. Itau Unibanco Holding S.A. increased its holdings in shares of Zoom Video Communications by 1.9% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company's stock worth $497,000 after acquiring an additional 131 shares during the period. MML Investors Services LLC lifted its position in Zoom Video Communications by 1.4% in the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company's stock valued at $655,000 after purchasing an additional 132 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company's stock valued at $556,000 after purchasing an additional 145 shares during the period. Finally, MetLife Investment Management LLC grew its position in Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company's stock worth $322,000 after purchasing an additional 154 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Insiders Place Their Bets

In other news, COO Aparna Bawa sold 9,317 shares of Zoom Video Communications stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the transaction, the chief operating officer now owns 14,053 shares in the company, valued at approximately $1,105,830.57. The trade was a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 83,333 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total value of $6,958,305.50. The disclosure for this sale can be found here. Insiders sold a total of 382,242 shares of company stock worth $31,230,938 over the last ninety days. 10.78% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Scotiabank upgraded Zoom Video Communications to a "hold" rating in a research report on Tuesday, November 19th. Benchmark boosted their price target on Zoom Video Communications from $85.00 to $97.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. The Goldman Sachs Group raised their price target on Zoom Video Communications from $72.00 to $86.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Morgan Stanley lifted 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 research note on Wednesday, December 18th. Finally, Barclays increased their target price on shares of Zoom Video Communications from $70.00 to $85.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 27th. Sixteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $89.48.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM traded down $0.95 during midday trading on Friday, reaching $82.50. The company had a trading volume of 4,120,593 shares, compared to its average volume of 2,294,444. The company has a fifty day simple moving average of $83.21 and a two-hundred day simple moving average of $75.90. The firm has a market cap of $25.29 billion and a price-to-earnings ratio of 27.50. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

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.