Commonwealth Equity Services LLC Purchases 715 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Commonwealth Equity Services LLC grew its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,501 shares of the company’s stock after acquiring an additional 715 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Zoom Video Communications were worth $2,734,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Global X Japan Co. Ltd. increased its stake in Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after acquiring an additional 190 shares during the period. Avior Wealth Management LLC boosted its holdings in Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of 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 purchasing an additional 258 shares during the period. Truvestments Capital LLC acquired a new position in shares of Zoom Video Communications in the 3rd quarter worth approximately $37,000. Finally, Geneos Wealth Management Inc. bought a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 118,036 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $79.03, for a total value of $9,328,385.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of Zoom Video Communications stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following 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. Over the last quarter, insiders sold 371,746 shares of company stock worth $29,689,595. 10.78% of the stock is owned by insiders.

Zoom Video Communications Stock Down 0.4 %

ZM stock opened at $77.78 on Thursday. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market cap of $23.74 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. The business’s fifty day moving average is $79.90 and its 200-day moving average is $78.10.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ZM shares. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $87.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Benchmark restated a “buy” rating and issued a $97.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Citigroup reduced their target price on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Fifteen equities research 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $89.33.

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.