GeoWealth Management LLC Increases Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

GeoWealth Management LLC lifted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 4,220.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,154 shares of the company’s stock after purchasing an additional 9,919 shares during the period. GeoWealth Management LLC’s holdings in Zoom Video Communications were worth $829,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Global X Japan Co. Ltd. raised its stake in shares of 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 buying an additional 190 shares during the period. Avior Wealth Management LLC increased its holdings in Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in 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 acquiring an additional 258 shares during the period. Geneos Wealth Management Inc. purchased a new stake in Zoom Video Communications during the fourth quarter valued at about $39,000. Finally, MRP Capital Investments LLC boosted its position in Zoom Video Communications by 500.0% during the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock worth $49,000 after purchasing an additional 500 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Trading Up 0.4 %

NASDAQ ZM opened at $71.49 on Friday. The firm has a market cap of $21.82 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The stock has a 50-day moving average of $75.34 and a 200-day moving average of $78.52.

Analyst Ratings Changes

ZM has been the topic of a number of recent research reports. Stifel Nicolaus dropped their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Citigroup lowered their target price on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Mizuho reduced their price target on shares of Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Finally, Barclays lowered their price objective on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Fifteen equities research 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 company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $86.62.

Insider Buying and Selling at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Santiago Subotovsky sold 2,475 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the completion of the sale, the director now directly owns 169,452 shares in the company, valued at approximately $13,193,532.72. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 242,897 shares of company stock worth $18,941,111. 10.78% of the stock is currently owned by insiders.

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.