Atomi Financial Group Inc. Boosts Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Atomi Financial Group Inc. grew its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 6.0% during the fourth quarter, HoldingsChannel reports. The firm owned 6,677 shares of the company’s stock after buying an additional 376 shares during the period. Atomi Financial Group Inc.’s holdings in Zoom Video Communications were worth $545,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ZM. Truvestments Capital LLC acquired a new position in shares of Zoom Video Communications during the third quarter worth about $37,000. Allworth Financial LP lifted its stake in shares of Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after acquiring an additional 180 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after acquiring an additional 274 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Zoom Video Communications by 27.1% in the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after acquiring an additional 164 shares in the last quarter. Finally, True Wealth Design LLC lifted its stake in shares of Zoom Video Communications by 10,763.6% in the third quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock worth $83,000 after acquiring an additional 1,184 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $80.01 on Friday. 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 capitalization of $24.52 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 4.94 and a beta of -0.01. The business has a 50 day simple moving average of $82.56 and a 200 day simple moving average of $72.15.

Analyst Ratings Changes

Several research analysts recently commented on the company. The Goldman Sachs Group boosted their price target on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Mizuho boosted their price target on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Piper Sandler boosted their price target on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $70.00 to $115.00 in a research note on Tuesday, November 26th. Sixteen investment 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 presently has a consensus rating of “Hold” and an average target price of $89.10.

Insider Buying and Selling

In other Zoom Video Communications news, CAO Shane Crehan sold 1,551 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $131,741.94. Following the completion of the transaction, the chief accounting officer now directly owns 3,251 shares of the company’s stock, valued at approximately $276,139.94. This trade represents a 32.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total value of $2,008,250.00. Following the transaction, the director now directly owns 1,514 shares of the company’s stock, valued at approximately $121,619.62. The trade was a 94.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 489,981 shares of company stock valued at $38,712,948 in the last three months. 10.78% of the stock is currently owned by corporate 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.