Beacon Pointe Advisors LLC Grows Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Beacon Pointe Advisors LLC raised its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 14.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,235 shares of the company's stock after purchasing an additional 13,642 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Zoom Video Communications were worth $9,078,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Adero Partners LLC raised its holdings in shares of Zoom Video Communications by 2.4% during the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company's stock valued at $450,000 after buying an additional 129 shares during the period. GAMMA Investing LLC raised its holdings in shares of Zoom Video Communications by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company's stock valued at $63,000 after buying an additional 164 shares during the period. Principal Securities Inc. raised its holdings in shares of Zoom Video Communications by 26.9% during the 4th quarter. Principal Securities Inc. now owns 783 shares of the company's stock valued at $64,000 after buying an additional 166 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Zoom Video Communications by 4.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock valued at $330,000 after buying an additional 168 shares during the period. Finally, Global X Japan Co. Ltd. raised 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. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zoom Video Communications

In other news, Director Santiago Subotovsky sold 2,475 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $75.43, for a total transaction of $186,689.25. Following the completion of the transaction, the director now owns 160,299 shares in the company, valued at approximately $12,091,353.57. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 11,839 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total transaction of $851,342.49. Following the transaction, the insider now owns 125,529 shares of the company's stock, valued at approximately $9,026,790.39. This trade represents a 8.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 245,372 shares of company stock worth $19,127,800 in the last 90 days. Corporate insiders own 10.78% of the company's stock.

Zoom Video Communications Stock Up 0.2 %

Shares of ZM opened at $76.16 on Tuesday. The firm has a 50-day moving average price of $74.02 and a 200 day moving average price of $78.79. The firm has a market capitalization of $23.25 billion, a PE ratio of 25.39, a P/E/G ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Analyst Ratings Changes

Several research firms have issued reports on ZM. Cantor Fitzgerald restated a "neutral" rating and set a $87.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Barclays cut their price target on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Mizuho reduced their price objective on shares of Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Benchmark reiterated a "buy" rating and set a $97.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Finally, Rosenblatt Securities reduced their price objective on shares of Zoom Video Communications from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $85.90.

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.

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