EverSource Wealth Advisors LLC Purchases 281 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

EverSource Wealth Advisors LLC boosted its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 17.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,908 shares of the company’s stock after purchasing an additional 281 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Zoom Video Communications were worth $156,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. FMR LLC boosted its position in shares of Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after purchasing an additional 2,395,396 shares during the last quarter. State Street Corp lifted its stake in Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after buying an additional 134,559 shares during the period. Pacer Advisors Inc. boosted its holdings in Zoom Video Communications by 4.4% during the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock worth $382,188,000 after buying an additional 233,241 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Zoom Video Communications by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock worth $320,177,000 after buying an additional 184,518 shares during the period. Finally, Two Sigma Advisers LP increased its stake in shares of Zoom Video Communications by 9.8% in the 3rd quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company’s stock valued at $101,032,000 after acquiring an additional 128,800 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM opened at $75.16 on Tuesday. The stock has a 50 day moving average price of $80.30 and a 200 day moving average price of $77.75. The stock has a market capitalization of $22.94 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80.

Insider Activity

In related news, CEO Eric S. Yuan sold 118,036 shares of Zoom Video Communications stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 9,317 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $733,154.73. Following the completion of the sale, the chief operating officer now owns 14,053 shares in the company, 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 90 days, insiders sold 369,271 shares of company stock valued at $29,496,892. 10.78% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on ZM shares. The Goldman Sachs Group lifted their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. Morgan Stanley upped their price objective on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Sanford C. Bernstein lifted their target price on 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, Piper Sandler increased their price target on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $89.33.

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.