Summit Trail Advisors LLC Invests $489,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Summit Trail Advisors LLC bought a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,995 shares of the company's stock, valued at approximately $489,000.

Several other large investors have also recently bought and sold shares of ZM. Global X Japan Co. Ltd. increased its position in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after acquiring an additional 190 shares in the last quarter. Avior Wealth Management LLC increased its position 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 acquiring an additional 265 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of Zoom Video Communications during the third quarter worth $37,000. Geneos Wealth Management Inc. bought a new stake in shares of Zoom Video Communications during the fourth quarter worth $39,000. Finally, Allworth Financial LP increased its position in shares of Zoom Video Communications by 43.8% during the third 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. Institutional investors own 66.54% of the company's stock.

Insider Buying and Selling

In other news, insider Velchamy Sankarlingam sold 3,618 shares of the firm's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the sale, the insider now directly owns 107,826 shares in the company, valued at approximately $9,158,740.44. This trade represents a 3.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 83,332 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 382,242 shares of company stock valued at $31,230,938. 10.78% of the stock is owned by company insiders.

Zoom Video Communications Stock Down 0.1 %

Shares of NASDAQ ZM traded down $0.06 during mid-day trading on Friday, reaching $85.10. 1,435,757 shares of the company were exchanged, compared to its average volume of 2,158,431. The company's 50-day simple moving average is $83.29 and its 200-day simple moving average is $75.21. The stock has a market capitalization of $26.08 billion and a P/E ratio of 28.37. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ZM shares. Sanford C. Bernstein increased 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 report on Tuesday, November 26th. JMP Securities restated a "market perform" rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Barclays increased their target price on shares of Zoom Video Communications from $70.00 to $85.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 27th. Jefferies Financial Group upgraded shares of Zoom Video Communications from a "hold" rating to a "buy" rating and increased their target price for the stock from $85.00 to $100.00 in a report on Thursday, December 19th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $95.00 target price on shares of Zoom Video Communications in a report on Tuesday, November 26th. Sixteen 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average 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.