Sanctuary Advisors LLC Buys 2,714 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Sanctuary Advisors LLC raised its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 22.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,020 shares of the company’s stock after acquiring an additional 2,714 shares during the quarter. Sanctuary Advisors LLC’s holdings in Zoom Video Communications were worth $1,047,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Innealta Capital LLC acquired a new position in shares of Zoom Video Communications in the 2nd quarter worth approximately $33,000. Truvestments Capital LLC acquired a new position in Zoom Video Communications in the third quarter worth $37,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Zoom Video Communications during the second quarter worth $41,000. Allworth Financial LP increased its stake in shares of Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after buying an additional 180 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after buying an additional 274 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Trading Up 1.8 %

ZM stock opened at $85.60 on Friday. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The business’s 50-day moving average price is $79.85 and its two-hundred day moving average price is $68.59. 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.

Analyst Ratings Changes

ZM has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Morgan Stanley increased their price target on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday. Benchmark upped their price objective on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Jefferies Financial Group raised 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. Finally, Sanford C. Bernstein upped their price target on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research note on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $87.10.

Insider Activity

In related news, CAO Shane Crehan sold 1,551 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $131,741.94. Following the sale, the chief accounting officer now owns 3,251 shares of the company’s stock, valued at approximately $276,139.94. This trade represents a 32.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Velchamy Sankarlingam sold 10,338 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $69.51, for a total value of $718,594.38. Following the transaction, the insider now directly owns 104,414 shares of the company’s stock, valued at approximately $7,257,817.14. This trade represents a 9.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 428,513 shares of company stock worth $32,366,914 in the last 90 days. Corporate 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.