Stratos Wealth Advisors LLC Invests $1.16 Million in Zoom Video Communications, Inc. (NASDAQ:ZM)

Stratos Wealth Advisors LLC purchased a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,230 shares of the company's stock, valued at approximately $1,161,000.

Several other hedge funds have also recently modified their holdings of the company. FMR LLC lifted its position in shares of Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company's stock worth $867,906,000 after buying an additional 2,395,396 shares in the last quarter. State Street Corp increased its stake in shares of Zoom Video Communications by 2.3% during the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company's stock worth $425,853,000 after purchasing an additional 134,559 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Zoom Video Communications by 4.4% during the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company's stock worth $382,188,000 after purchasing an additional 233,241 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Zoom Video Communications by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company's stock worth $320,177,000 after purchasing an additional 184,518 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of Zoom Video Communications by 9.8% during the 3rd quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company's stock worth $101,032,000 after purchasing an additional 128,800 shares during the last quarter. Institutional investors own 66.54% of the company's stock.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM traded up $1.53 during midday trading on Monday, hitting $87.65. 1,025,889 shares of the company traded hands, compared to its average volume of 2,185,108. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The stock has a 50-day moving average price of $83.18 and a 200 day moving average price of $74.55. The firm has a market cap of $26.86 billion and a P/E ratio of 29.23.

Insiders Place Their Bets

In other news, CAO Shane Crehan sold 1,412 shares of the company's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the transaction, the chief accounting officer now owns 5,404 shares in the company, valued at approximately $425,240.76. This represents a 20.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 3,618 shares of the company's stock in a transaction that occurred on Tuesday, December 10th. The stock was 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 owns 107,826 shares in the company, valued at approximately $9,158,740.44. This represents a 3.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 382,242 shares of company stock worth $31,230,938. 10.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ZM shares. Stifel Nicolaus lifted their price objective on shares of Zoom Video Communications from $70.00 to $90.00 and gave the company a "hold" rating in a research note on Tuesday, November 26th. UBS Group lifted their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Rosenblatt Securities reiterated a "buy" rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research note on Friday, November 22nd. 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, Piper Sandler lifted their price objective on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Sixteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target 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.