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

Proficio Capital Partners LLC bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 11,833 shares of the company’s stock, valued at approximately $966,000.

A number of other institutional investors also recently modified their holdings of ZM. Global X Japan Co. Ltd. raised its position in shares of Zoom Video Communications by 127.5% during the fourth 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. Avior Wealth Management LLC raised its position in 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 buying an additional 265 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Zoom Video Communications by 277.4% in 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. Truvestments Capital LLC purchased a new stake in Zoom Video Communications in the 3rd quarter valued at $37,000. Finally, Geneos Wealth Management Inc. purchased a new stake in Zoom Video Communications in the 4th quarter valued at $39,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on ZM. Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. Benchmark reaffirmed a “buy” rating and set a $97.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Hsbc Global Res raised Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Wednesday. Finally, The Goldman Sachs Group raised their target price on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $89.33.

Insider Buying and Selling at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 10,817 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $851,189.73. Following the completion of the transaction, the insider now owns 117,760 shares of the company’s stock, valued at approximately $9,266,534.40. The trade was a 8.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was 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. Insiders sold 369,271 shares of company stock valued at $29,496,892 in the last quarter. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Stock Down 0.1 %

ZM stock opened at $75.97 on Friday. The firm has a market capitalization of $23.19 billion, a PE ratio of 25.32, a PEG ratio of 5.48 and a beta of 0.26. 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 simple moving average of $79.98 and a two-hundred day simple moving average of $77.82.

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.