Sciencast Management LP bought 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 and Exchange Commission. The fund bought 18,529 shares of the company's stock, valued at approximately $1,512,000.
Other institutional investors have also made changes to their positions in the company. Global X Japan Co. Ltd. raised its holdings in Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after acquiring an additional 190 shares during the period. Avior Wealth Management LLC increased its stake in shares of Zoom Video Communications by 291.2% during 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 lifted its holdings in 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 purchasing an additional 258 shares during the last quarter. Truvestments Capital LLC acquired a new stake in Zoom Video Communications during the 3rd quarter worth approximately $37,000. Finally, Geneos Wealth Management Inc. bought a new stake in Zoom Video Communications in the 4th quarter valued at $39,000. 66.54% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Zoom Video Communications
In other news, COO Aparna Bawa sold 9,317 shares of Zoom Video Communications 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 completion of the transaction, the chief operating officer now directly owns 14,053 shares of the company's stock, valued at approximately $1,105,830.57. This trade represents a 39.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $5,663,314.38. The disclosure for this sale can be found here. Insiders have sold 369,271 shares of company stock worth $29,496,892 over the last ninety days. Insiders own 10.78% of the company's stock.
Zoom Video Communications Price Performance
Shares of Zoom Video Communications stock traded up $2.23 during trading on Monday, hitting $78.20. The company's stock had a trading volume of 1,969,972 shares, compared to its average volume of 3,038,958. The stock has a 50-day moving average price of $79.98 and a two-hundred day moving average price of $77.95. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The stock has a market cap of $23.87 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.
Wall Street Analysts Forecast Growth
ZM has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $87.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. UBS Group cut their target price on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Piper Sandler raised their price target on Zoom Video Communications from $68.00 to $89.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. JMP Securities reaffirmed a "market perform" rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Finally, Sanford C. Bernstein raised their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a "market perform" rating in a report on Tuesday, November 26th. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $89.33.
Read Our Latest Stock Report on ZM
About Zoom Video Communications
(
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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