EP Wealth Advisors LLC Increases Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

EP Wealth Advisors LLC increased its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,116 shares of the company’s stock after buying an additional 355 shares during the quarter. EP Wealth Advisors LLC’s holdings in Zoom Video Communications were worth $744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Collar Capital Management LLC acquired a new stake in shares of Zoom Video Communications in the fourth quarter worth $1,647,000. Colonial Trust Co SC acquired a new stake in Zoom Video Communications in the 4th quarter valued at $32,000. Cetera Investment Advisers increased its holdings in Zoom Video Communications by 3.8% in the 4th quarter. Cetera Investment Advisers now owns 16,590 shares of the company’s stock valued at $1,354,000 after purchasing an additional 600 shares in the last quarter. Brevan Howard Capital Management LP purchased a new position in Zoom Video Communications in the fourth quarter valued at about $2,910,000. Finally, Captrust Financial Advisors lifted its stake in shares of Zoom Video Communications by 58.2% during the fourth quarter. Captrust Financial Advisors now owns 17,975 shares of the company’s stock worth $1,467,000 after purchasing an additional 6,614 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 75,531 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Aparna Bawa sold 16,099 shares of Zoom Video Communications stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the completion of the sale, the chief operating officer now owns 1,978 shares in the company, valued at approximately $143,583.02. This represents a 89.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,515 shares of company stock worth $12,132,994 over the last quarter. 11.51% of the stock is owned by company insiders.

Analysts Set New Price Targets

ZM has been the subject of a number of recent research reports. Mizuho lowered their target price on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Scotiabank dropped their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Monday, March 17th. Wells Fargo & Company reduced their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Citigroup lowered their price target on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $90.00 price objective on shares of Zoom Video Communications in a report on Thursday. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus target price of $85.90.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $81.31 on Friday. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The firm’s 50-day moving average is $74.34 and its 200-day moving average is $79.24. The company has a market cap of $24.82 billion, a P/E ratio of 27.10, a PEG ratio of 5.48 and a beta of 0.79.

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.