HighTower Advisors LLC Buys 52,039 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

HighTower Advisors LLC lifted its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 449.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 63,618 shares of the company's stock after purchasing an additional 52,039 shares during the period. HighTower Advisors LLC's holdings in Zoom Video Communications were worth $4,429,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. FMR LLC boosted its holdings in shares of Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company's stock valued at $867,906,000 after buying an additional 2,395,396 shares during the period. AQR Capital Management LLC boosted its stake in Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company's stock valued at $337,233,000 after acquiring an additional 2,520,987 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Zoom Video Communications by 4.4% during the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company's stock valued at $382,188,000 after purchasing an additional 233,241 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company's stock valued at $290,153,000 after purchasing an additional 1,855,679 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Zoom Video Communications by 24.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company's stock worth $80,827,000 after purchasing an additional 264,217 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM traded up $2.76 during mid-day trading on Wednesday, reaching $86.59. 3,499,560 shares of the company traded hands, compared to its average volume of 3,346,876. The company's fifty day moving average is $77.33 and its two-hundred day moving average is $67.34. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The stock has a market cap of $26.54 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 5.44 and a beta of -0.03.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 10,338 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $69.51, for a total value of $718,594.38. Following the completion of the sale, the insider now directly owns 104,414 shares of the company's stock, valued at $7,257,817.14. This represents a 9.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Shane Crehan sold 1,551 shares of the company's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $131,741.94. Following the transaction, the chief accounting officer now directly owns 3,251 shares of the company's stock, valued at $276,139.94. This represents a 32.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 437,414 shares of company stock worth $32,958,564 over the last ninety days. Company insiders own 10.78% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on ZM. Robert W. Baird dropped their price target on shares of Zoom Video Communications from $84.00 to $77.00 and set an "outperform" rating on the stock in a research note on Thursday, August 22nd. Rosenblatt Securities restated a "buy" rating and issued a $78.00 target price on shares of Zoom Video Communications in a research report on Friday, November 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Hsbc Global Res raised Zoom Video Communications to a "strong-buy" rating in a research note on Tuesday, November 26th. 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. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Zoom Video Communications has a consensus rating of "Hold" and a consensus price target of $85.19.

Zoom Video Communications 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.