Prakash Investment Advisors LLC Acquires Shares of 12,010 Zoom Video Communications, Inc. (NASDAQ:ZM)

Prakash Investment Advisors LLC acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 12,010 shares of the company’s stock, valued at approximately $980,000. Zoom Video Communications comprises approximately 1.0% of Prakash Investment Advisors LLC’s investment portfolio, making the stock its 21st biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baker Avenue Asset Management LP lifted its position in Zoom Video Communications by 82.1% in the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after purchasing an additional 12,890 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Zoom Video Communications by 449.4% during the third quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after acquiring an additional 52,039 shares in the last quarter. Merit Financial Group LLC bought a new position in shares of Zoom Video Communications during the fourth quarter valued at approximately $1,072,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Zoom Video Communications by 15.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock valued at $87,713,000 after acquiring an additional 167,618 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new position in shares of Zoom Video Communications during the third quarter valued at approximately $62,038,000. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Trading Down 2.0 %

NASDAQ ZM opened at $83.45 on Friday. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The stock has a market cap of $25.58 billion and a P/E ratio of 27.82. The stock’s fifty day moving average price is $83.28 and its 200-day moving average price is $75.85.

Wall Street Analyst Weigh In

ZM has been the subject of a number of recent analyst reports. Piper Sandler upped their target price on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Bank of America upped their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Cantor Fitzgerald assumed coverage on Zoom Video Communications in a report on Friday, January 17th. They issued a “neutral” rating and a $87.00 price objective for the company. Barclays increased their price objective on Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Friday, January 10th. Sixteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and an average target price of $89.48.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 118,036 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $79.03, for a total transaction of $9,328,385.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Shane Crehan sold 1,551 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the sale, the chief accounting officer now directly owns 3,251 shares in the company, valued at $276,139.94. This trade represents a 32.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 382,242 shares of company stock valued at $31,230,938 over the last ninety days. Insiders own 10.78% of the company’s stock.

Zoom Video Communications 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.