Circle Wealth Management LLC Makes New $552,000 Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Circle Wealth Management LLC bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,762 shares of the company's stock, valued at approximately $552,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. grew its holdings in 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 in the last quarter. Avior Wealth Management LLC grew its holdings in Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after buying an additional 265 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after buying an additional 258 shares in the last quarter. Colonial Trust Co SC purchased a new stake in Zoom Video Communications during the 4th quarter valued at approximately $32,000. Finally, Geneos Wealth Management Inc. purchased a new stake in Zoom Video Communications during the 4th quarter valued at approximately $39,000. Institutional investors own 66.54% of the company's stock.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM traded up $1.06 on Friday, hitting $81.31. 1,854,341 shares of the company's stock were exchanged, compared to its average volume of 3,026,068. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The stock has a market capitalization of $24.82 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. The business's 50 day simple moving average is $74.34 and its two-hundred day simple moving average is $79.29.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Benchmark reaffirmed a "buy" rating and set a $97.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Barclays cut their target price on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Mizuho cut their target price on shares of Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Stifel Nicolaus cut their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. Finally, Wells Fargo & Company cut their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Zoom Video Communications currently has an average rating of "Hold" and a consensus price target of $85.90.

Insider Transactions at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 11,839 shares of Zoom Video Communications stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total value of $851,342.49. Following the completion of the sale, the insider now directly owns 125,529 shares in the company, valued at $9,026,790.39. The trade was a 8.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $78.82, for a total value of $195,079.50. Following the completion of the sale, the director now owns 157,824 shares of the company's stock, valued at $12,439,687.68. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,515 shares of company stock worth $12,132,994. 11.51% of the stock is currently 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.