VisionPoint Advisory Group LLC Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

VisionPoint Advisory Group LLC purchased a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 768 shares of the company’s stock, valued at approximately $63,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global X Japan Co. Ltd. lifted its holdings in shares of Zoom Video Communications by 127.5% during 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 period. Avior Wealth Management LLC raised its holdings in Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. Geneos Wealth Management Inc. bought a new position in Zoom Video Communications in the 4th quarter worth $39,000. Truvestments Capital LLC bought a new position in Zoom Video Communications in the 3rd quarter worth $37,000. Finally, Allworth Financial LP raised its holdings in Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the period. 66.54% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Zoom Video Communications news, COO Aparna Bawa sold 9,317 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the transaction, the chief operating officer now owns 14,053 shares in the company, valued at $1,105,830.57. The trade was a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 83,332 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 382,242 shares of company stock worth $31,230,938. Corporate insiders own 10.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ZM. Mizuho raised their target price on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a report on Friday, November 22nd. UBS Group raised their price target on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Morgan Stanley raised their price target on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Finally, Barclays raised their price target on Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Sixteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and a consensus price target of $89.48.

Zoom Video Communications Trading Down 1.1 %

ZM opened at $82.50 on Friday. The firm has a market cap of $25.29 billion and a P/E ratio of 27.50. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The stock has a 50-day moving average of $83.21 and a 200 day moving average of $75.90.

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.