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

Wealth Enhancement Advisory Services LLC increased its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 0.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,890 shares of the company’s stock after acquiring an additional 398 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Zoom Video Communications were worth $6,112,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ZM. Truvestments Capital LLC acquired a new stake in shares of Zoom Video Communications in the third quarter worth $37,000. Allworth Financial LP boosted its position in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after acquiring an additional 180 shares during the period. Venturi Wealth Management LLC boosted its position in Zoom Video Communications by 56.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after acquiring an additional 274 shares during the period. GAMMA Investing LLC grew its stake in Zoom Video Communications by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock valued at $63,000 after acquiring an additional 164 shares in the last quarter. Finally, True Wealth Design LLC increased its holdings in shares of Zoom Video Communications by 10,763.6% in the 3rd quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock valued at $83,000 after purchasing an additional 1,184 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Velchamy Sankarlingam sold 3,618 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $307,312.92. Following the sale, the insider now directly owns 107,826 shares in the company, valued at approximately $9,158,740.44. The trade was a 3.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 35,722 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $71.45, for a total value of $2,552,336.90. Following the completion of the transaction, the chief executive officer now directly owns 57,371 shares of the company’s stock, valued at approximately $4,099,157.95. This trade represents a 38.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 370,592 shares of company stock worth $28,972,914 in the last ninety days. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Down 0.8 %

Shares of ZM stock opened at $78.82 on Tuesday. The firm has a market capitalization of $24.16 billion, a P/E ratio of 26.27, a price-to-earnings-growth ratio of 5.29 and a beta of -0.01. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The firm’s fifty day simple moving average is $83.02 and its 200 day simple moving average is $71.24.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ZM shares. Morgan Stanley boosted their price objective 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. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Friday. Piper Sandler upped their target price on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $100.00 in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $87.81.

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.