Ballew Advisors Inc boosted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 58.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 697 shares of the company’s stock after purchasing an additional 256 shares during the quarter. Ballew Advisors Inc’s holdings in Zoom Video Communications were worth $235,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Rocky Mountain Advisers LLC acquired a new stake in shares of Zoom Video Communications in the third quarter valued at approximately $26,000. Chiron Capital Management LLC acquired a new stake in shares of Zoom Video Communications in the third quarter valued at approximately $28,000. CNB Bank acquired a new stake in shares of Zoom Video Communications in the third quarter valued at approximately $37,000. Earnest Partners LLC acquired a new stake in shares of Zoom Video Communications in the third quarter valued at approximately $38,000. Finally, Winch Advisory Services LLC boosted its holdings in shares of Zoom Video Communications by 340.0% in the third quarter. Winch Advisory Services LLC now owns 88 shares of the company’s stock valued at $41,000 after acquiring an additional 68 shares during the period. 37.97% of the stock is owned by hedge funds and other institutional investors.
Shares of ZM stock traded up $7.82 during mid-day trading on Wednesday, reaching $364.63. The stock had a trading volume of 13,313,795 shares, compared to its average volume of 7,209,504. Zoom Video Communications, Inc. has a 12-month low of $70.26 and a 12-month high of $588.84. The company has a market cap of $104.29 billion, a P/E ratio of 484.44, a price-to-earnings-growth ratio of 12.42 and a beta of -1.46. The business has a 50-day simple moving average of $390.53 and a 200 day simple moving average of $377.79.
Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. downgraded Zoom Video Communications from an “overweight” rating to a “neutral” rating and set a $450.00 price objective for the company. in a report on Wednesday, December 9th. Credit Suisse Group increased their price objective on Zoom Video Communications from $315.00 to $340.00 and gave the company an “underperform” rating in a report on Tuesday, December 1st. Needham & Company LLC increased their price objective on Zoom Video Communications from $440.00 to $540.00 and gave the company a “buy” rating in a report on Thursday, October 15th. Mizuho began coverage on Zoom Video Communications in a research note on Friday, October 9th. They set a “buy” rating and a $550.00 price target for the company. Finally, The Goldman Sachs Group upped their price target on Zoom Video Communications from $402.00 to $460.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 1st. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the stock. Zoom Video Communications has a consensus rating of “Hold” and a consensus target price of $436.54.
In related news, CEO Eric S. Yuan sold 70,142 shares of the stock in a transaction on Wednesday, December 16th. The stock was sold at an average price of $401.87, for a total transaction of $28,187,965.54. Following the sale, the chief executive officer now owns 177,285 shares of the company’s stock, valued at $71,245,522.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 7,500 shares of the stock in a transaction on Friday, October 16th. The shares were sold at an average price of $544.07, for a total value of $4,080,525.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 166,884 shares of company stock valued at $74,937,633. Company insiders own 24.25% of the company’s stock.
About Zoom Video Communications
Zoom Video Communications, Inc provides a video-first communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company's product portfolio includes 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 that provides secure call routing, call queuing, call detail reports, call recording, call quality monitoring, voicemail, switch to video, and other services, as well as inbound and outbound calling services; and Zoom Chat enables sharing messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices for meeting and phone customers.
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