Poinciana Advisors Group LLC acquired a new position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,891 shares of the company's stock, valued at approximately $399,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE raised its stake in Zoom Video Communications by 33.5% during the 3rd quarter. US Bancorp DE now owns 2,983 shares of the company's stock worth $208,000 after acquiring an additional 749 shares during the period. Janney Montgomery Scott LLC raised its stake in Zoom Video Communications by 17.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 18,595 shares of the company's stock worth $1,297,000 after acquiring an additional 2,800 shares during the period. Amalgamated Bank raised its stake in Zoom Video Communications by 1.9% during the 3rd quarter. Amalgamated Bank now owns 13,912 shares of the company's stock worth $970,000 after acquiring an additional 257 shares during the period. Crossmark Global Holdings Inc. bought a new stake in shares of Zoom Video Communications during the third quarter valued at approximately $203,000. Finally, Venturi Wealth Management LLC raised its position in shares of Zoom Video Communications by 56.0% during the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company's stock valued at $53,000 after buying an additional 274 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on ZM. The Goldman Sachs Group boosted their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Scotiabank dropped their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating for the company in a research note on Monday. UBS Group dropped their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Sanford C. Bernstein lifted their price objective on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 26th. Finally, Stifel Nicolaus dropped their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a research note on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Zoom Video Communications currently has an average rating of "Hold" and a consensus target price of $89.33.
Check Out Our Latest Analysis on Zoom Video Communications
Insiders Place Their Bets
In other news, Director Jonathan Chadwick sold 25,000 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the transaction, the director now owns 1,514 shares in the company, valued at $121,619.62. This represents a 94.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 75,531 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were 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. Over the last ninety days, insiders sold 369,271 shares of company stock worth $29,496,892. 10.78% of the stock is owned by corporate insiders.
Zoom Video Communications Price Performance
Zoom Video Communications stock traded up $0.81 during trading hours on Wednesday, reaching $76.26. The stock had a trading volume of 1,688,896 shares, compared to its average volume of 3,019,605. The company has a market cap of $23.28 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 5.48 and a beta of 0.26. The business's 50 day moving average price is $80.20 and its 200-day moving average price is $77.80. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80.
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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