Leuthold Group LLC Acquires Shares of 5,494 Zoom Video Communications, Inc. (NASDAQ:ZM)

Leuthold Group LLC acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,494 shares of the company’s stock, valued at approximately $448,000.

A number of other hedge funds have also recently modified their holdings of the company. VisionPoint Advisory Group LLC purchased a new position in shares of Zoom Video Communications in the fourth quarter valued at about $63,000. Prakash Investment Advisors LLC purchased a new position in shares of Zoom Video Communications in the fourth quarter valued at about $980,000. Handelsbanken Fonder AB increased its position in shares of Zoom Video Communications by 53.0% in the fourth quarter. Handelsbanken Fonder AB now owns 256,842 shares of the company’s stock valued at $20,961,000 after acquiring an additional 88,986 shares during the period. Ieq Capital LLC boosted its stake in shares of Zoom Video Communications by 288.1% during the 4th quarter. Ieq Capital LLC now owns 140,814 shares of the company’s stock valued at $11,492,000 after purchasing an additional 104,532 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Zoom Video Communications by 227.5% during the 4th quarter. Venturi Wealth Management LLC now owns 2,499 shares of the company’s stock valued at $204,000 after purchasing an additional 1,736 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM opened at $82.50 on Friday. The firm’s 50 day moving average price is $83.18 and its 200-day moving average price is $76.09. The company has a market cap of $25.29 billion and a PE ratio of 27.50. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Insider Transactions at Zoom Video Communications

In other news, COO Aparna Bawa sold 9,317 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the transaction, the chief operating officer now directly owns 14,053 shares of the company’s stock, valued at $1,105,830.57. The trade was a 39.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric S. Yuan sold 83,333 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total transaction of $6,958,305.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 382,242 shares of company stock worth $31,230,938. Corporate insiders own 10.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a research note on Tuesday, November 26th. Cantor Fitzgerald assumed coverage on shares of Zoom Video Communications in a research note on Friday, January 17th. They set a “neutral” rating and a $87.00 target price on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Friday, January 10th. Jefferies Financial Group raised 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. Finally, The Goldman Sachs Group lifted their target price on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Sixteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $89.48.

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.