Trivest Advisors Ltd Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Trivest Advisors Ltd bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 168,000 shares of the company’s stock, valued at approximately $13,710,000. Trivest Advisors Ltd owned 0.05% of Zoom Video Communications at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. increased its position in Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after buying an additional 190 shares during the period. Avior Wealth Management LLC grew its stake in shares of Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 258 shares in the last quarter. Truvestments Capital LLC bought a new position in Zoom Video Communications during the third quarter worth about $37,000. Finally, Geneos Wealth Management Inc. acquired a new stake in Zoom Video Communications in the 4th quarter worth about $39,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ZM shares. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $70.00 to $115.00 in a report on Tuesday, November 26th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Scotiabank dropped their price objective on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating for the company in a report on Monday. Hsbc Global Res raised Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $89.33.

Zoom Video Communications Stock Up 0.4 %

NASDAQ ZM opened at $75.45 on Wednesday. The company has a market cap of $23.03 billion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The business’s fifty day moving average is $80.20 and its 200 day moving average is $77.80.

Insider Transactions at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,412 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $111,110.28. Following the completion of the transaction, the chief accounting officer now directly owns 5,404 shares in the company, valued at $425,240.76. This trade represents a 20.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 10,817 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $851,189.73. Following the completion of the transaction, the insider now owns 117,760 shares in the company, valued at $9,266,534.40. This trade represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 369,271 shares of company stock worth $29,496,892. 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.