HighTower Advisors LLC Sells 4,274 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

HighTower Advisors LLC lowered its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 6.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,344 shares of the company’s stock after selling 4,274 shares during the quarter. HighTower Advisors LLC’s holdings in Zoom Video Communications were worth $4,843,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Global X Japan Co. Ltd. raised its stake in Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after buying an additional 190 shares during the period. Avior Wealth Management LLC raised its position 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 worth $29,000 after purchasing an additional 265 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 258 shares in the last quarter. Truvestments Capital LLC acquired a new stake in Zoom Video Communications in the 3rd quarter valued at $37,000. Finally, Geneos Wealth Management Inc. bought a new stake in Zoom Video Communications during the 4th quarter valued at $39,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ZM. Bank of America lifted their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Hsbc Global Res upgraded shares of Zoom Video Communications to a “strong-buy” rating in a research report 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 research report on Tuesday, November 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Wednesday. Finally, Barclays lowered their target price on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $89.33.

Zoom Video Communications Stock Up 1.1 %

Shares of ZM stock opened at $76.26 on Thursday. The business’s fifty day moving average is $80.13 and its 200 day moving average is $77.79. The stock has a market cap of $23.28 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

Insider Buying and Selling

In other Zoom Video Communications news, CEO Eric S. Yuan sold 33,751 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $78.69, for a total value of $2,655,866.19. Following the completion of the transaction, the chief executive officer now owns 34,703 shares of the company’s stock, valued at approximately $2,730,779.07. The trade was a 49.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of the company’s 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 owns 1,514 shares in the company, valued at $121,619.62. This represents a 94.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 369,271 shares of company stock worth $29,496,892 in the last quarter. Corporate insiders own 10.78% of the company’s stock.

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.