Avory & Company LLC Boosts Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Avory & Company LLC lifted its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 2.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 302,590 shares of the company’s stock after purchasing an additional 5,840 shares during the quarter. Zoom Video Communications accounts for approximately 13.8% of Avory & Company LLC’s holdings, making the stock its 2nd biggest holding. Avory & Company LLC owned approximately 0.10% of Zoom Video Communications worth $24,694,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. FMR LLC lifted its position in Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after buying an additional 2,395,396 shares in the last quarter. State Street Corp lifted its position in Zoom Video Communications by 2.3% during the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after buying an additional 134,559 shares in the last quarter. Pacer Advisors Inc. lifted its position in Zoom Video Communications by 4.4% during the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock worth $382,188,000 after buying an additional 233,241 shares in the last quarter. Geode Capital Management LLC lifted its position in Zoom Video Communications by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock worth $320,177,000 after buying an additional 184,518 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in Zoom Video Communications by 9.8% during the 3rd quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company’s stock valued at $101,032,000 after purchasing an additional 128,800 shares during the period. Institutional investors own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ZM. Bank of America upped their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group upped their target price on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Piper Sandler upped their target price on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Finally, Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their target price for the company from $70.00 to $115.00 in a research report on Tuesday, November 26th. Fifteen 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $90.05.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 83,332 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan Chadwick sold 25,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $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 three months, insiders sold 298,909 shares of company stock valued at $24,272,632. 10.78% of the stock is owned by corporate insiders.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $75.60 on Thursday. The business has a 50 day simple moving average of $81.66 and a 200 day simple moving average of $77.26. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The stock has a market cap of $23.17 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 5.48 and a beta of 0.26.

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.