GeoWealth Management LLC Grows Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

GeoWealth Management LLC increased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 4,220.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 10,154 shares of the company's stock after acquiring an additional 9,919 shares during the period. GeoWealth Management LLC's holdings in Zoom Video Communications were worth $829,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZM. 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 valued at $28,000 after buying an additional 190 shares during the period. Avior Wealth Management LLC raised its stake in Zoom Video Communications by 291.2% in the fourth 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 lifted its stake in Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after purchasing an additional 258 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in Zoom Video Communications in the fourth quarter valued at approximately $39,000. Finally, MRP Capital Investments LLC increased its stake in Zoom Video Communications by 500.0% in the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock valued at $49,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Mizuho dropped their target price on shares of Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Barclays reduced their target price on 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. Wells Fargo & Company cut their price target on Zoom Video Communications from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Morgan Stanley cut their target price on shares of Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Rosenblatt Securities decreased their price target on shares of Zoom Video Communications from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday. 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 company. According to MarketBeat, Zoom Video Communications currently has an average rating of "Hold" and a consensus price target of $85.90.

Zoom Video Communications Trading Up 0.9 %

Shares of NASDAQ ZM traded up $0.67 during trading on Friday, reaching $76.16. The company had a trading volume of 543,741 shares, compared to its average volume of 2,516,687. The stock has a market capitalization of $23.25 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The stock has a 50-day moving average price of $74.39 and a two-hundred day moving average price of $78.58.

Insider Buying and Selling at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 11,839 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total value of $851,342.49. Following the transaction, the insider now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 242,897 shares of company stock worth $18,941,111. 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.