Summit Trail Advisors LLC Buys Shares of 5,995 Zoom Video Communications, Inc. (NASDAQ:ZM)

Summit Trail Advisors LLC bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 5,995 shares of the company’s stock, valued at approximately $489,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ZM. The Manufacturers Life Insurance Company grew its holdings 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 worth $794,000 after acquiring an additional 223 shares during the period. Truist Financial Corp acquired a new stake in Zoom Video Communications in the second quarter valued at $296,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Zoom Video Communications by 340.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,104 shares of the company’s stock valued at $216,000 after buying an additional 2,400 shares in the last quarter. Harrington Investments INC raised its stake in shares of Zoom Video Communications by 12.4% during the 3rd quarter. Harrington Investments INC now owns 18,645 shares of the company’s stock worth $1,300,000 after buying an additional 2,055 shares during the last quarter. Finally, Creative Planning raised its stake in shares of Zoom Video Communications by 18.5% during the 3rd quarter. Creative Planning now owns 34,522 shares of the company’s stock worth $2,408,000 after buying an additional 5,396 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Trading Down 3.8 %

ZM stock opened at $83.82 on Wednesday. The company has a market cap of $25.69 billion and a PE ratio of 27.94. The stock has a 50-day moving average price of $83.26 and a two-hundred day moving average price of $74.74. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80.

Analysts Set New Price Targets

Several equities analysts have weighed in on ZM shares. Barclays raised their target price on shares of Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Benchmark lifted their price objective on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Stifel Nicolaus increased their target price on Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday, November 26th. Piper Sandler boosted their price target on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Sixteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $89.10.

Insider Activity

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,618 shares of the firm’s stock in a transaction dated 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 trade represents a 3.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Shane Crehan sold 1,412 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the completion of the sale, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 382,242 shares of company stock valued at $31,230,938 in the last three months. Corporate insiders own 10.78% of the company’s stock.

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.