Zoom Video Communications, Inc. (NASDAQ:ZM) Stock Holdings Boosted by Ieq Capital LLC

Ieq Capital LLC lifted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 288.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,814 shares of the company's stock after acquiring an additional 104,532 shares during the period. Ieq Capital LLC's holdings in Zoom Video Communications were worth $11,492,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ZM. Creative Planning grew its position in Zoom Video Communications by 18.5% during the third quarter. Creative Planning now owns 34,522 shares of the company's stock valued at $2,408,000 after acquiring an additional 5,396 shares during the period. Blue Trust Inc. lifted its stake in shares of Zoom Video Communications by 117.7% in the 3rd quarter. Blue Trust Inc. now owns 5,105 shares of the company's stock valued at $356,000 after purchasing an additional 2,760 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Zoom Video Communications by 0.7% during the 3rd quarter. Raymond James & Associates now owns 53,089 shares of the company's stock worth $3,702,000 after purchasing an additional 383 shares during the period. Signaturefd LLC increased its position in Zoom Video Communications by 12.7% during the 3rd quarter. Signaturefd LLC now owns 3,443 shares of the company's stock worth $240,000 after purchasing an additional 387 shares in the last quarter. Finally, Courier Capital LLC purchased a new position in Zoom Video Communications in the third quarter valued at approximately $251,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 9,317 shares of the business's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction 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 $1,105,830.57. The trade was a 39.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $307,312.92. Following the completion of the sale, the insider now owns 107,826 shares in the company, valued at $9,158,740.44. The trade was a 3.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 382,242 shares of company stock valued at $31,230,938. Corporate insiders own 10.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised shares of Zoom Video Communications from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Benchmark increased their price target on Zoom Video Communications from $85.00 to $97.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. JMP Securities restated a "market perform" rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Bank of America increased 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. Finally, Piper Sandler raised their target price on Zoom Video Communications from $68.00 to $89.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Sixteen investment 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $89.48.

Zoom Video Communications Trading Down 1.2 %

NASDAQ ZM traded down $0.97 on Friday, hitting $82.49. 3,017,570 shares of the stock traded hands, compared to its average volume of 2,257,323. The stock has a 50-day moving average of $83.21 and a 200 day moving average of $75.90. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market capitalization of $25.28 billion and a P/E ratio of 27.48.

About Zoom Video Communications

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.