Strategic Financial Concepts LLC Purchases Shares of 10,178 Zoom Video Communications, Inc. (NASDAQ:ZM)

Strategic Financial Concepts LLC acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,178 shares of the company's stock, valued at approximately $831,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Avior Wealth Management LLC boosted its holdings in shares of Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after acquiring an additional 265 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Zoom Video Communications in the 4th quarter worth approximately $39,000. Truvestments Capital LLC acquired a new position in shares of Zoom Video Communications in the 3rd quarter worth approximately $37,000. Allworth Financial LP boosted its holdings in shares of Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company's stock worth $41,000 after acquiring an additional 180 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in Zoom Video Communications by 56.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company's stock worth $53,000 after purchasing an additional 274 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Velchamy Sankarlingam sold 3,618 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $307,312.92. Following the completion of the transaction, the insider now directly owns 107,826 shares in the company, valued at $9,158,740.44. This represents a 3.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Aparna Bawa sold 9,317 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $1,105,830.57. This represents a 39.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 382,242 shares of company stock valued at $31,230,938. Company insiders own 10.78% of the company's stock.

Zoom Video Communications Stock Performance

NASDAQ ZM traded down $0.06 on Friday, reaching $85.10. The company had a trading volume of 1,435,757 shares, compared to its average volume of 2,158,431. The firm has a market capitalization of $26.08 billion and a price-to-earnings ratio of 28.37. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The company's fifty day moving average is $83.29 and its 200-day moving average is $75.21.

Analysts Set New Price Targets

Several research analysts recently weighed in on ZM shares. Hsbc Global Res upgraded shares of Zoom Video Communications to a "strong-buy" rating in a research report on Tuesday, November 26th. Rosenblatt Securities restated a "buy" rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research report on Friday, November 22nd. Stifel Nicolaus boosted their price objective on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a "hold" rating in a research report on Tuesday, November 26th. JMP Securities restated a "market perform" rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Finally, Jefferies Financial Group upgraded shares of Zoom Video Communications from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Sixteen 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 stock. According to MarketBeat, Zoom Video Communications currently has an average rating of "Hold" and a consensus target price of $89.10.

Zoom Video Communications Company 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.