Geneos Wealth Management Inc. Purchases New Shares in Zoom Video Communications, Inc. (NASDAQ:ZM)

Geneos Wealth Management Inc. acquired a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 484 shares of the company’s stock, valued at approximately $39,000.

Other hedge funds have also modified their holdings of the company. Silver Lake Advisory LLC lifted its holdings in Zoom Video Communications by 13.3% during the fourth quarter. Silver Lake Advisory LLC now owns 40,325 shares of the company’s stock valued at $3,291,000 after purchasing an additional 4,745 shares in the last quarter. Whalen Wealth Management Inc. acquired a new position in shares of Zoom Video Communications during the 4th quarter worth about $251,000. Avior Wealth Management LLC lifted its stake in Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after buying an additional 265 shares in the last quarter. Dakota Wealth Management acquired a new stake in Zoom Video Communications in the 4th quarter worth about $849,000. Finally, Simon Quick Advisors LLC purchased a new stake in Zoom Video Communications during the 4th quarter worth approximately $320,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZM. UBS Group lifted their price target on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Cantor Fitzgerald assumed coverage on shares of Zoom Video Communications in a research note on Friday, January 17th. They set a “neutral” rating and a $87.00 target price on the stock. JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Rosenblatt Securities restated a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research report on Friday, November 22nd. Finally, Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. Sixteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $89.10.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $86.94 on Friday. The company’s 50 day simple moving average is $83.08 and its 200-day simple moving average is $73.38. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The company has a market capitalization of $26.65 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 5.49 and a beta of -0.01.

Insider Activity at Zoom Video Communications

In related news, Director Jonathan Chadwick sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the sale, the director now directly owns 1,514 shares of the company’s stock, valued at $121,619.62. This represents a 94.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Shane Crehan sold 1,551 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $131,741.94. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 477,481 shares of company stock worth $37,774,948. 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.