Teachers Retirement System of The State of Kentucky purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 69,526 shares of the company’s stock, valued at approximately $5,116,000.
Other large investors have also modified their holdings of the company. SeaCrest Wealth Management LLC purchased a new stake in shares of Zoom Video Communications during the second quarter worth about $26,000. Ronald Blue Trust Inc. purchased a new stake in Zoom Video Communications in the second quarter valued at approximately $27,000. Wagner Wealth Management LLC purchased a new stake in Zoom Video Communications in the second quarter valued at approximately $32,000. Global Wealth Management Investment Advisory Inc. boosted its position in Zoom Video Communications by 63.3% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after buying an additional 114 shares during the last quarter. Finally, TCI Wealth Advisors Inc. boosted its position in Zoom Video Communications by 57.9% in the third quarter. TCI Wealth Advisors Inc. now owns 529 shares of the company’s stock valued at $39,000 after buying an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 52.96% of the company’s stock.
Zoom Video Communications Stock Performance
NASDAQ ZM opened at $69.19 on Friday. The business has a fifty day moving average price of $72.83 and a 200 day moving average price of $74.87. Zoom Video Communications, Inc. has a one year low of $63.55 and a one year high of $127.37. The company has a market cap of $20.33 billion, a P/E ratio of 216.22, a P/E/G ratio of 4.05 and a beta of -0.21.
Analyst Upgrades and Downgrades
ZM has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their target price on Zoom Video Communications from $104.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 23rd. Stifel Nicolaus dropped their target price on Zoom Video Communications to $75.00 in a research report on Friday, March 3rd. Credit Suisse Group reiterated a “neutral” rating and issued a $83.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 28th. Deutsche Bank Aktiengesellschaft dropped their target price on Zoom Video Communications from $95.00 to $75.00 and set a “hold” rating on the stock in a research report on Tuesday, November 22nd. Finally, Wells Fargo & Company decreased their price target on Zoom Video Communications from $95.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday, November 22nd. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $93.40.
Insider Activity at Zoom Video Communications
In related news, President Gregory Tomb sold 4,801 shares of the stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $70.98, for a total value of $340,774.98. Following the completion of the transaction, the president now directly owns 28,611 shares of the company’s stock, valued at approximately $2,030,808.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 3,224 shares of the company’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $65.18, for a total value of $210,140.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Gregory Tomb sold 4,801 shares of the company’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $70.98, for a total value of $340,774.98. Following the completion of the sale, the president now owns 28,611 shares of the company’s stock, valued at $2,030,808.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,138 shares of company stock valued at $3,887,382. 11.24% of the stock is owned by insiders.
Zoom Video Communications Company Profile
Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.
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