Collar Capital Management LLC Acquires New Shares in Zoom Video Communications, Inc. (NASDAQ:ZM)

Collar Capital Management LLC acquired a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 20,178 shares of the company's stock, valued at approximately $1,647,000. Zoom Video Communications accounts for about 1.4% of Collar Capital Management LLC's holdings, making the stock its 29th biggest position.

Several other hedge funds also recently modified their holdings of the stock. Global X Japan Co. Ltd. raised its holdings in shares of Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after purchasing an additional 190 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of 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 during the last quarter. Avior Wealth Management LLC lifted its position in shares of 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 during the last quarter. Colonial Trust Co SC purchased a new stake in Zoom Video Communications in the 4th quarter worth about $32,000. Finally, Geneos Wealth Management Inc. bought a new stake in Zoom Video Communications in the 4th quarter valued at about $39,000. Institutional investors own 66.54% of the company's stock.

Insider Buying and Selling

In other Zoom Video Communications news, COO Aparna Bawa sold 16,099 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total value of $1,168,626.41. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at $143,583.02. This represents a 89.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 11,839 shares of the company'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 completion of the sale, the insider now directly owns 125,529 shares of the company's stock, valued at $9,026,790.39. This represents a 8.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,515 shares of company stock valued at $12,132,994. 11.51% of the stock is owned by corporate insiders.

Zoom Video Communications Stock Performance

Shares of ZM traded up $1.06 during trading hours on Friday, hitting $81.31. The stock had a trading volume of 1,854,341 shares, compared to its average volume of 3,022,934. The firm has a 50-day moving average price of $74.34 and a 200 day moving average price of $79.19. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm has a market capitalization of $24.82 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 5.48 and a beta of 0.79.

Wall Street Analyst Weigh In

ZM has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on Zoom Video Communications from $85.00 to $75.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Barclays lowered their target price on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley reduced their price target on shares of Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Royal Bank of Canada reiterated an "outperform" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Finally, Stifel Nicolaus reduced their target price on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a research report on Tuesday, February 25th. Fifteen 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $85.90.

Zoom Video Communications 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.