Proficio Capital Partners LLC acquired a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 11,833 shares of the company's stock, valued at approximately $966,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ZM. Global X Japan Co. Ltd. lifted its stake in shares of Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after acquiring an additional 190 shares during the period. Avior Wealth Management LLC lifted its position in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after purchasing an additional 265 shares during the period. Parkside Financial Bank & Trust boosted its stake in Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after purchasing an additional 258 shares in the last quarter. Truvestments Capital LLC bought a new position in Zoom Video Communications during the 3rd quarter valued at $37,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Zoom Video Communications during the 4th quarter valued at $39,000. 66.54% of the stock is owned by institutional investors.
Zoom Video Communications Stock Performance
Shares of NASDAQ:ZM traded down $0.07 during midday trading on Tuesday, hitting $78.13. 1,586,095 shares of the stock were exchanged, compared to its average volume of 3,038,827. The company has a market capitalization of $23.85 billion, a PE ratio of 26.04, a P/E/G ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The business's fifty day simple moving average is $79.97 and its two-hundred day simple moving average is $78.03.
Insiders Place Their Bets
In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Shane Crehan sold 1,412 shares of the business'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 $111,110.28. Following the completion of the sale, the chief accounting officer now directly owns 5,404 shares of the company's stock, valued at $425,240.76. This represents a 20.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 369,271 shares of company stock valued at $29,496,892 in the last three months. Insiders own 10.78% of the company's stock.
Analyst Upgrades and Downgrades
ZM has been the subject of several research reports. Bank of America raised their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Evercore ISI upgraded shares of Zoom Video Communications from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $70.00 to $115.00 in a research report on Tuesday, November 26th. Hsbc Global Res upgraded shares of Zoom Video Communications to a "strong-buy" rating in a report on Tuesday, November 26th. Wells Fargo & Company raised shares of Zoom Video Communications from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Finally, Mizuho lifted their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 26th. Fifteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $89.33.
Read Our Latest Research Report on ZM
Zoom Video Communications Company 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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