Focus Partners Wealth Boosts Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Focus Partners Wealth lifted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 32.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,914 shares of the company's stock after buying an additional 26,020 shares during the period. Focus Partners Wealth's holdings in Zoom Video Communications were worth $8,672,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in Zoom Video Communications by 0.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 74,890 shares of the company's stock worth $6,112,000 after purchasing an additional 398 shares during the period. Wedmont Private Capital raised its stake in Zoom Video Communications by 12.5% during the fourth quarter. Wedmont Private Capital now owns 3,350 shares of the company's stock worth $266,000 after purchasing an additional 371 shares during the period. Wynn Capital LLC raised its stake in Zoom Video Communications by 2.0% during the fourth quarter. Wynn Capital LLC now owns 10,034 shares of the company's stock worth $819,000 after purchasing an additional 200 shares during the period. Accurate Wealth Management LLC raised its stake in Zoom Video Communications by 33.5% during the fourth quarter. Accurate Wealth Management LLC now owns 28,380 shares of the company's stock worth $2,255,000 after purchasing an additional 7,124 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Zoom Video Communications by 126.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company's stock worth $102,119,000 after purchasing an additional 699,625 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ZM has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $87.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. UBS Group reduced their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Scotiabank reduced their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating on the stock in a research note on Monday, March 17th. Royal Bank of Canada reissued an "outperform" rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Finally, Wells Fargo & Company reduced their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research note 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $85.90.

Zoom Video Communications Stock Up 0.6%

NASDAQ ZM opened at $83.18 on Wednesday. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The stock has a market capitalization of $25.39 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. The firm has a 50 day moving average of $74.63 and a two-hundred day moving average of $79.38.

Insiders Place Their Bets

In other news, insider Velchamy Sankarlingam sold 11,839 shares of the business's stock in a transaction that occurred on 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 owns 125,529 shares in the company, valued at approximately $9,026,790.39. The trade was a 8.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $78.82, for a total transaction of $195,079.50. Following the sale, the director now owns 157,824 shares of the company's stock, valued at $12,439,687.68. This represents a 1.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,515 shares of company stock worth $12,132,994 in the last 90 days. Corporate insiders own 10.78% of the company's stock.

Zoom Video Communications Company 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.

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