Baker Avenue Asset Management LP Has $2.67 Million Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Baker Avenue Asset Management LP boosted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,681 shares of the company's stock after acquiring an additional 4,088 shares during the quarter. Baker Avenue Asset Management LP's holdings in Zoom Video Communications were worth $2,667,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ZM. BNP Paribas acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at $50,000. Ameriprise Financial Inc. lifted its holdings in shares of Zoom Video Communications by 17.8% during the fourth quarter. Ameriprise Financial Inc. now owns 132,120 shares of the company's stock worth $10,779,000 after purchasing an additional 20,000 shares during the period. Alyeska Investment Group L.P. raised its position in Zoom Video Communications by 2.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,086,033 shares of the company's stock worth $88,631,000 after buying an additional 31,092 shares during the last quarter. Ancora Advisors LLC lifted its stake in Zoom Video Communications by 20.8% during the 4th quarter. Ancora Advisors LLC now owns 1,366 shares of the company's stock valued at $111,000 after acquiring an additional 235 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Zoom Video Communications by 15.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 17,962 shares of the company's stock valued at $1,466,000 after acquiring an additional 2,437 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

Insider Transactions at Zoom Video Communications

In related news, COO Aparna Bawa sold 16,099 shares of the stock in a transaction on 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 transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the firm's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $78.82, for a total transaction of $195,079.50. Following the completion of the transaction, the director now directly owns 157,824 shares of the company's stock, valued at approximately $12,439,687.68. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,515 shares of company stock worth $12,132,994 in the last three months. Insiders own 10.78% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Barclays lowered their price objective on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Mizuho dropped their price objective on Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Cantor Fitzgerald reiterated a "neutral" rating and set a $87.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Morgan Stanley cut their price target on Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Fifteen investment 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. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $85.90.

Zoom Video Communications Stock Up 2.1 %

ZM stock traded up $1.63 during midday trading on Thursday, reaching $80.27. The stock had a trading volume of 2,446,476 shares, compared to its average volume of 3,025,615. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The firm has a market cap of $24.50 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 5.48 and a beta of 0.79. The business has a fifty day simple moving average of $74.09 and a two-hundred day simple moving average of $79.08.

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.