Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by Evoke Wealth LLC

Evoke Wealth LLC raised its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 23.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,635 shares of the company’s stock after acquiring an additional 1,242 shares during the quarter. Evoke Wealth LLC’s holdings in Zoom Video Communications were worth $541,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Global X Japan Co. Ltd. lifted its position in Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after purchasing an additional 190 shares during the period. Avior Wealth Management LLC lifted its position in Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. Parkside Financial Bank & Trust lifted its position in Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 258 shares during the period. Truvestments Capital LLC acquired a new position in Zoom Video Communications during the third quarter valued at $37,000. Finally, Geneos Wealth Management Inc. acquired a new position in Zoom Video Communications during the fourth quarter valued at $39,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 33,751 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total value of $2,655,866.19. Following the transaction, the chief executive officer now directly owns 34,703 shares in the company, valued at approximately $2,730,779.07. This represents a 49.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Shane Crehan sold 1,412 shares of the company’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 $111,110.28. Following the completion of the transaction, the chief accounting officer now owns 5,404 shares in the company, valued at approximately $425,240.76. This represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 369,271 shares of company stock valued at $29,496,892. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Up 0.4 %

ZM stock opened at $75.45 on Wednesday. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The stock has a market capitalization of $23.03 billion, a P/E ratio of 25.15, a P/E/G ratio of 5.48 and a beta of 0.26. The firm has a 50-day simple moving average of $80.20 and a 200-day simple moving average of $77.80.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ZM shares. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Morgan Stanley boosted their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Hsbc Global Res raised shares of Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Wells Fargo & Company raised shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Finally, Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $100.00 in a report on Thursday, December 19th. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $89.33.

About Zoom Video Communications

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.