Xponance Inc. Boosts Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Xponance Inc. lifted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 18.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,577 shares of the company's stock after purchasing an additional 4,372 shares during the period. Xponance Inc.'s holdings in Zoom Video Communications were worth $2,251,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global X Japan Co. Ltd. increased its position in Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after buying an additional 190 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after acquiring an additional 258 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Zoom Video Communications by 291.2% in 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 during the period. Geneos Wealth Management Inc. bought a new position in shares of Zoom Video Communications in the fourth quarter worth $39,000. Finally, Truvestments Capital LLC purchased a new position in shares of Zoom Video Communications in the third quarter valued at $37,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

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Zoom Video Communications Stock Performance

NASDAQ:ZM traded up $0.45 during trading hours on Tuesday, reaching $78.65. The company's stock had a trading volume of 336,428 shares, compared to its average volume of 3,038,827. The firm has a market capitalization of $24.01 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 5.48 and a beta of 0.26. The firm has a 50-day simple moving average of $79.97 and a 200-day simple moving average of $78.03. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80.

Insider Activity

In other news, CAO Shane Crehan sold 1,412 shares of the firm'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 trade represents a 20.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 10,817 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $851,189.73. Following the sale, the insider now owns 117,760 shares of the company's stock, valued at $9,266,534.40. This represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 369,271 shares of company stock valued at $29,496,892. 10.78% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays dropped their price objective on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. JMP Securities reissued a "market perform" rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. UBS Group reduced their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Citigroup lowered their target price on shares of Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 18th. Finally, Rosenblatt Securities restated a "buy" rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Fifteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $89.33.

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.