Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Purchased by Wealthfront Advisers LLC

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. acquired a new position in Zoom Video Communications in the 3rd quarter valued at about $203,000. Venturi Wealth Management LLC raised its stake 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 period. GSA Capital Partners LLP purchased a new stake in shares of Zoom Video Communications in the 3rd quarter valued at approximately $712,000. Victory Capital Management Inc. raised its stake in shares of Zoom Video Communications by 52.5% in the 3rd quarter. Victory Capital Management Inc. now owns 619,484 shares of the company’s stock valued at $43,203,000 after acquiring an additional 213,272 shares during the period. Finally, Metis Global Partners LLC raised its stake in shares of Zoom Video Communications by 7.1% in the 3rd quarter. Metis Global Partners LLC now owns 4,046 shares of the company’s stock valued at $282,000 after acquiring an additional 267 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Zoom Video Communications news, COO Aparna Bawa sold 9,317 shares of the firm’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 $733,154.73. Following the transaction, the chief operating officer now directly owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. This trade represents a 39.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 369,271 shares of company stock worth $29,496,892. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Up 2.7 %

Shares of Zoom Video Communications stock opened at $74.20 on Friday. The company has a fifty day simple moving average of $80.44 and a 200-day simple moving average of $77.67. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The stock has a market cap of $22.65 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 5.48 and a beta of 0.26.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ZM shares. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. The Goldman Sachs Group boosted their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Hsbc Global Res raised shares of Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Finally, Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $100.00 in a research note on Thursday, December 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 stock. Based on data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $90.05.

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.