Caprock Group LLC Takes $288,000 Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Caprock Group LLC acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 3,533 shares of the company’s stock, valued at approximately $288,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZM. Avior Wealth Management LLC raised its position in Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Zoom Video Communications during the third quarter worth $37,000. Geneos Wealth Management Inc. acquired a new stake in Zoom Video Communications during the fourth quarter valued at $39,000. Allworth Financial LP increased its holdings in 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 Zoom Video Communications by 56.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after purchasing an additional 274 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

ZM has been the subject of a number of recent analyst reports. Piper Sandler boosted their price objective on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a research note on Friday, November 22nd. Finally, Stifel Nicolaus boosted their target price on Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Sixteen research 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $89.10.

Zoom Video Communications Stock Up 0.8 %

Shares of ZM opened at $86.69 on Friday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The company’s fifty day moving average is $83.09 and its two-hundred day moving average is $74.05. The firm has a market cap of $26.57 billion and a PE ratio of 28.90.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 83,333 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total value of $6,958,305.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Aparna Bawa sold 9,317 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the transaction, the chief operating officer now owns 14,053 shares of the company’s stock, valued at $1,105,830.57. This represents a 39.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 382,242 shares of company stock worth $31,230,938. 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.