Poinciana Advisors Group LLC Makes New Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Poinciana Advisors Group LLC bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, HoldingsChannel reports. The fund bought 4,891 shares of the company’s stock, valued at approximately $399,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZM. Global X Japan Co. Ltd. lifted its holdings in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after purchasing an additional 190 shares during the period. Avior Wealth Management LLC raised its holdings in shares of Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 258 shares during the period. Truvestments Capital LLC bought a new stake in shares of Zoom Video Communications during the third quarter worth about $37,000. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Zoom Video Communications during the fourth quarter worth about $39,000. Institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ZM. Wells Fargo & Company raised shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Citigroup dropped their price target on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. UBS Group lowered their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Finally, Stifel Nicolaus lowered their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday, February 25th. Fifteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and an average price target of $90.05.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 1,514 shares in the company, valued at $121,619.62. This represents a 94.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 369,271 shares of company stock worth $29,496,892. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Up 2.7 %

NASDAQ ZM opened at $74.20 on Friday. The company’s 50-day moving average price is $80.44 and its 200-day moving average price is $77.63. The stock has a market cap of $22.65 billion, a PE ratio of 24.73, a PEG ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80.

About Zoom Video Communications

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.