Evoke Wealth LLC Buys 1,242 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Evoke Wealth LLC boosted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 23.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,635 shares of the company’s stock after purchasing an additional 1,242 shares during the period. Evoke Wealth LLC’s holdings in Zoom Video Communications were worth $541,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Adero Partners LLC grew its position in shares of Zoom Video Communications by 2.4% during the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock valued at $450,000 after acquiring an additional 129 shares during the period. Itau Unibanco Holding S.A. grew its position in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after acquiring an additional 131 shares during the period. MML Investors Services LLC grew its position in shares of Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after acquiring an additional 132 shares during the period. MetLife Investment Management LLC grew its position in shares of Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after acquiring an additional 154 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Zoom Video Communications by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock valued at $63,000 after acquiring an additional 164 shares during the period. Institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $70.00 to $115.00 in a research note on Tuesday, November 26th. Jefferies Financial Group upgraded shares of Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Sanford C. Bernstein lifted their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research note on Tuesday, November 26th. Finally, Bank of America lifted 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 note on Tuesday, November 26th. Fifteen investment 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $89.33.

Insiders Place Their Bets

In other news, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 trade represents a 94.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The disclosure for this sale can be found here. Insiders have sold 369,271 shares of company stock worth $29,496,892 in the last three months. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $75.45 on Wednesday. The company has a market capitalization of $23.03 billion, a P/E ratio of 25.15, a P/E/G ratio of 5.48 and a beta of 0.26. The company’s 50-day simple moving average is $80.20 and its two-hundred day simple moving average is $77.80. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

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.