Strategic Financial Concepts LLC Makes New $831,000 Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

Strategic Financial Concepts LLC acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 10,178 shares of the company’s stock, valued at approximately $831,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Baker Avenue Asset Management LP grew its position in Zoom Video Communications by 82.1% during the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after acquiring an additional 12,890 shares during the period. HighTower Advisors LLC lifted its stake in shares of Zoom Video Communications by 449.4% in the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after purchasing an additional 52,039 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Zoom Video Communications during the 4th quarter worth about $1,072,000. Robeco Institutional Asset Management B.V. increased its position in Zoom Video Communications by 15.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after purchasing an additional 167,618 shares in the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in Zoom Video Communications in the third quarter valued at approximately $62,038,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 3,618 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $307,312.92. Following the completion of the transaction, the insider now owns 107,826 shares of the company’s stock, valued at approximately $9,158,740.44. The trade was a 3.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Aparna Bawa sold 9,317 shares of the 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 completion of the sale, the chief operating officer now directly owns 14,053 shares in the company, valued at approximately $1,105,830.57. This trade represents a 39.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 382,242 shares of company stock valued at $31,230,938. Corporate insiders own 10.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ZM shares. Sanford C. Bernstein boosted their price objective on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 26th. Piper Sandler upped their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Friday, January 10th. Mizuho upped their target price on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Finally, The Goldman Sachs Group raised their target price on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Sixteen 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.10.

Zoom Video Communications Stock Down 3.8 %

Shares of NASDAQ ZM opened at $83.82 on Wednesday. The stock’s 50 day moving average price is $83.26 and its two-hundred day moving average price is $74.74. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The stock has a market capitalization of $25.69 billion and a P/E ratio of 27.94.

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.