Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC increased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 880.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,213 shares of the company's stock after buying an additional 42,397 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Zoom Video Communications were worth $3,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in Zoom Video Communications during the 2nd quarter valued at about $33,000. Truvestments Capital LLC purchased a new stake in Zoom Video Communications in the third quarter valued at approximately $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Zoom Video Communications in the 2nd quarter worth approximately $41,000. Allworth Financial LP raised its position in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company's stock worth $41,000 after buying an additional 180 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Zoom Video Communications by 56.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company's stock valued at $53,000 after acquiring an additional 274 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Aparna Bawa sold 831 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total value of $55,086.99. Following the completion of the sale, the chief operating officer now owns 1,978 shares in the company, valued at approximately $131,121.62. This trade represents a 29.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 3,614 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $241,668.18. Following the transaction, the insider now directly owns 94,000 shares in the company, valued at approximately $6,285,780. The trade was a 3.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 354,907 shares of company stock valued at $25,961,607 in the last 90 days. Company insiders own 10.78% of the company's stock.

Zoom Video Communications Price Performance

Shares of ZM traded up $2.86 during mid-day trading on Friday, reaching $86.22. The stock had a trading volume of 3,336,804 shares, compared to its average volume of 3,343,853. The business's fifty day moving average is $76.37 and its 200 day moving average is $66.83. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The firm has a market cap of $26.43 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 5.28 and a beta of -0.03.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. JMP Securities reissued a "market perform" rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Stifel Nicolaus raised their price target on shares of Zoom Video Communications from $70.00 to $90.00 and gave the company a "hold" rating in a research report on Tuesday, November 26th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Tuesday, November 26th. The Goldman Sachs Group increased their target price on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Finally, Evercore ISI upgraded Zoom Video Communications from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $70.00 to $115.00 in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Zoom Video Communications currently has a consensus rating of "Hold" and a consensus target price 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.