31,265 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Purchased by Hel Ved Capital Management Ltd

Hel Ved Capital Management Ltd purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, Holdings Channel.com reports. The fund purchased 31,265 shares of the company’s stock, valued at approximately $2,552,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. bought a new position in Zoom Video Communications during the fourth quarter valued at about $6,375,000. Integrated Quantitative Investments LLC bought a new position in shares of Zoom Video Communications during the 4th quarter valued at about $392,000. Atlas Capital Advisors Inc. raised its holdings in shares of Zoom Video Communications by 358.2% in the 4th quarter. Atlas Capital Advisors Inc. now owns 11,198 shares of the company’s stock worth $914,000 after purchasing an additional 8,754 shares in the last quarter. Grant Private Wealth Management Inc acquired a new stake in Zoom Video Communications during the fourth quarter valued at approximately $934,000. Finally, Motley Fool Asset Management LLC lifted its stake in Zoom Video Communications by 12.5% during the fourth quarter. Motley Fool Asset Management LLC now owns 13,939 shares of the company’s stock valued at $1,138,000 after purchasing an additional 1,552 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Zoom Video Communications Stock Down 7.5 %

NASDAQ:ZM opened at $67.75 on Friday. The company’s 50 day moving average is $79.13 and its 200-day moving average is $78.35. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The firm has a market cap of $20.68 billion, a price-to-earnings ratio of 22.58, a P/E/G ratio of 5.48 and a beta of 0.67.

Analysts Set New Price Targets

Several research firms have issued reports on ZM. Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Citigroup decreased their price target on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Morgan Stanley boosted their price objective on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Stifel Nicolaus dropped their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. Finally, UBS Group reduced their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $89.33.

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 33,751 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total value of $2,655,866.19. Following the sale, the chief executive officer now directly owns 34,703 shares in the company, valued at $2,730,779.07. This trade represents a 49.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Aparna Bawa sold 9,317 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the sale, the chief operating officer now owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. The trade was a 39.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 371,746 shares of company stock valued at $29,689,595. 10.78% of the stock is owned by insiders.

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.