Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by MML Investors Services LLC

MML Investors Services LLC grew its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,395 shares of the company’s stock after purchasing an additional 132 shares during the quarter. MML Investors Services LLC’s holdings in Zoom Video Communications were worth $655,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Innealta Capital LLC acquired a new position in Zoom Video Communications in the second quarter worth $33,000. Truvestments Capital LLC acquired a new position in shares of Zoom Video Communications in the 3rd quarter valued at about $37,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Zoom Video Communications during the 2nd quarter valued at about $41,000. Allworth Financial LP raised its stake in Zoom Video Communications by 43.8% during the third 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. Finally, Venturi Wealth Management LLC lifted its holdings in Zoom Video Communications by 56.0% in the third 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 last quarter. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

ZM stock opened at $85.60 on Friday. The firm has a market cap of $26.24 billion, a PE ratio of 28.53, a P/E/G ratio of 5.29 and a beta of -0.03. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The firm has a 50 day simple moving average of $79.85 and a 200 day simple moving average of $68.59.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ZM shares. Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their target price for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and increased their target price for the stock from $85.00 to $100.00 in a research report on Thursday. Rosenblatt Securities reissued a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a report on Friday, November 22nd. Sanford C. Bernstein increased their price objective on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a report on Tuesday, November 26th. Finally, Bank of America lifted their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Zoom Video Communications has an average rating of “Hold” and a consensus price target of $87.10.

Insider Activity

In other news, CAO Shane Crehan sold 1,551 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $131,741.94. Following the completion of the sale, the chief accounting officer now directly owns 3,251 shares of the company’s stock, valued at $276,139.94. This represents a 32.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $307,312.92. Following the completion of the transaction, the insider now directly owns 107,826 shares in the company, valued at $9,158,740.44. This represents a 3.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 428,513 shares of company stock worth $32,366,914. Insiders own 10.78% of the company’s stock.

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.