Proficio Capital Partners LLC Invests $966,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Proficio Capital Partners LLC acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 11,833 shares of the company’s stock, valued at approximately $966,000.

Several other institutional investors and hedge funds have also modified their holdings of ZM. Global X Japan Co. Ltd. grew its position 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 purchasing an additional 190 shares during the period. Avior Wealth Management LLC grew its position in shares of Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. Truvestments Capital LLC acquired a new position in shares of Zoom Video Communications in the 3rd quarter valued at approximately $37,000. Geneos Wealth Management Inc. acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at approximately $39,000. Finally, Venturi Wealth Management LLC boosted its position in Zoom Video Communications by 56.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after acquiring an additional 274 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Trading Up 0.7 %

ZM opened at $75.98 on Friday. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The stock’s fifty day simple moving average is $81.31 and its 200 day simple moving average is $77.36. The stock has a market cap of $23.29 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,618 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $307,312.92. Following the transaction, the insider now directly owns 107,826 shares of the company’s stock, valued at $9,158,740.44. This represents a 3.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total value of $2,008,250.00. Following the completion of the transaction, the director now directly owns 1,514 shares in the company, valued at approximately $121,619.62. This represents a 94.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 374,440 shares of company stock worth $29,935,946. Company insiders own 10.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. UBS Group reduced their price target on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Barclays reduced their price target on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Piper Sandler upped their price target on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Fifteen 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. According to MarketBeat, Zoom Video Communications has an average rating of “Hold” and a consensus target price of $90.05.

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.