Wealthfront Advisers LLC Purchases 4,733 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Wealthfront Advisers LLC increased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 62.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,276 shares of the company's stock after acquiring an additional 4,733 shares during the period. Wealthfront Advisers LLC's holdings in Zoom Video Communications were worth $1,002,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Global X Japan Co. Ltd. boosted its position in Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after buying an additional 190 shares during the last quarter. Avior Wealth Management LLC boosted its position in Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after buying an additional 265 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after buying an additional 258 shares during the last quarter. Truvestments Capital LLC bought a new position in Zoom Video Communications in the 3rd quarter valued at $37,000. Finally, Geneos Wealth Management Inc. bought a new position in Zoom Video Communications in the 4th quarter valued at $39,000. 66.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 10,817 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $851,189.73. Following the completion of the transaction, the insider now owns 117,760 shares in the company, valued at $9,266,534.40. This trade represents a 8.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Aparna Bawa sold 9,317 shares of the firm's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $733,154.73. Following the completion of the transaction, the chief operating officer now 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 disclosure for this sale can be found here. Insiders have sold 369,271 shares of company stock valued at $29,496,892 in the last 90 days. 10.78% of the stock is currently owned by company insiders.

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Zoom Video Communications Price Performance

Shares of ZM traded up $0.81 during midday trading on Wednesday, hitting $76.26. The stock had a trading volume of 1,642,702 shares, compared to its average volume of 3,019,418. The company has a 50 day simple moving average of $80.20 and a two-hundred day simple moving average of $77.80. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The firm has a market cap of $23.28 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.

Wall Street Analysts Forecast Growth

ZM has been the topic of several recent research reports. Mizuho raised their price target on Zoom Video Communications from $90.00 to $105.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 26th. Rosenblatt Securities restated a "buy" rating and issued a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday. Sanford C. Bernstein raised their price target on 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. Piper Sandler raised their price target on Zoom Video Communications from $68.00 to $89.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Finally, The Goldman Sachs Group raised their price target on Zoom Video Communications from $72.00 to $86.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Fifteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average 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.