Caprock Group LLC Makes New Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Caprock Group LLC purchased a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,533 shares of the company’s stock, valued at approximately $288,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. The Manufacturers Life Insurance Company raised its position in shares of Zoom Video Communications by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock valued at $794,000 after buying an additional 223 shares in the last quarter. Truist Financial Corp acquired a new stake in shares of Zoom Video Communications in the 2nd quarter valued at $296,000. Sanctuary Advisors LLC bought a new position in shares of Zoom Video Communications in the 2nd quarter valued at $763,000. Atomi Financial Group Inc. raised its holdings in shares of Zoom Video Communications by 22.0% during the 3rd quarter. Atomi Financial Group Inc. now owns 6,301 shares of the company’s stock worth $439,000 after buying an additional 1,137 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Zoom Video Communications by 657.7% during the 3rd quarter. CWM LLC now owns 62,917 shares of the company’s stock worth $4,388,000 after buying an additional 54,613 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ZM shares. Mizuho lifted their target price on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. Stifel Nicolaus boosted their target price on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. Jefferies Financial Group upgraded 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 note on Thursday, December 19th. Finally, Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Sixteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $89.10.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the sale, the insider now directly owns 107,826 shares in the company, valued at approximately $9,158,740.44. The trade was a 3.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. Insiders have sold a total of 382,242 shares of company stock worth $31,230,938 in the last ninety days. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Up 0.8 %

Shares of ZM opened at $86.69 on Friday. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The firm has a 50 day moving average of $83.09 and a 200 day moving average of $74.05. The company has a market capitalization of $26.57 billion and a P/E ratio of 28.90.

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.