Cannon Global Investment Management LLC Buys Shares of 9,500 Zoom Video Communications, Inc. (NASDAQ:ZM)

Cannon Global Investment Management LLC purchased a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,500 shares of the company’s stock, valued at approximately $775,000. Zoom Video Communications accounts for approximately 1.7% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 18th biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Global X Japan Co. Ltd. raised its holdings 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 worth $28,000 after purchasing an additional 190 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Zoom Video Communications by 277.4% during 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 in the last quarter. Avior Wealth Management LLC grew its stake in shares of Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $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 approximately $39,000. Finally, Truvestments Capital LLC bought a new position in Zoom Video Communications in the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. UBS Group dropped their price objective on 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. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Barclays cut their price objective on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. The Goldman Sachs Group lifted their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Morgan Stanley upped their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus target price of $89.33.

Insider Activity at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,412 shares of the business’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 $111,110.28. Following the sale, the chief accounting officer now directly owns 5,404 shares of the company’s stock, valued at $425,240.76. The trade was a 20.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 118,036 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $79.03, for a total value of $9,328,385.08. The disclosure for this sale can be found here. Insiders sold 369,271 shares of company stock worth $29,496,892 over the last three months. 10.78% of the stock is owned by corporate insiders.

Zoom Video Communications Stock Down 0.1 %

Shares of NASDAQ ZM opened at $75.97 on Monday. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The business has a fifty day simple moving average of $79.98 and a two-hundred day simple moving average of $77.95. The firm has a market cap of $23.19 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.

Zoom Video Communications Company 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.