10,178 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Acquired by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC bought a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,178 shares of the company’s stock, valued at approximately $831,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Baker Avenue Asset Management LP raised its stake in shares of Zoom Video Communications by 82.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after acquiring an additional 12,890 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Zoom Video Communications by 449.4% during the third quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after purchasing an additional 52,039 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Zoom Video Communications during the 4th quarter valued at $1,072,000. Robeco Institutional Asset Management B.V. grew its stake in Zoom Video Communications by 15.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after buying an additional 167,618 shares during the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in Zoom Video Communications during the 3rd quarter valued at about $62,038,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,412 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $111,110.28. Following the completion of the sale, the chief accounting officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 83,333 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total transaction of $6,958,305.50. The disclosure for this sale can be found here. Insiders sold a total of 382,242 shares of company stock worth $31,230,938 in the last 90 days. Corporate insiders own 10.78% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Cantor Fitzgerald started coverage on Zoom Video Communications in a report on Friday, January 17th. They issued a “neutral” rating and a $87.00 price target for the company. Stifel Nicolaus boosted their target price on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. Sanford C. Bernstein upped their price target on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research note on Tuesday, November 26th. Rosenblatt Securities reiterated a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research note on Friday, November 22nd. Finally, Barclays raised their target price on Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Sixteen 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.com, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $89.48.

Zoom Video Communications Stock Performance

ZM opened at $85.20 on Wednesday. The company has a fifty day moving average of $83.28 and a two-hundred day moving average of $75.59. The stock has a market capitalization of $26.11 billion and a price-to-earnings ratio of 28.40. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

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.