Truvestments Capital LLC Purchases New Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Truvestments Capital LLC acquired a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 537 shares of the company’s stock, valued at approximately $37,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Innealta Capital LLC acquired a new position in shares of Zoom Video Communications in the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Zoom Video Communications in the second quarter worth $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Zoom Video Communications during the second quarter worth $41,000. Allworth Financial LP increased its stake in shares of 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 shares of Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after buying an additional 274 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $70.00 to $115.00 in a report on Tuesday. Rosenblatt Securities restated a “buy” rating and set a $78.00 target price on shares of Zoom Video Communications in a research report on Friday, November 22nd. Finally, Stifel Nicolaus boosted their price target on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $85.19.

Insiders Place Their Bets

In other Zoom Video Communications news, Director Jonathan Chadwick sold 12,500 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total transaction of $938,000.00. Following the sale, the director now directly owns 1,514 shares of the company’s stock, valued at $113,610.56. The trade was a 89.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. In the last 90 days, insiders sold 367,108 shares of company stock worth $26,796,191. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Up 2.3 %

Shares of NASDAQ:ZM opened at $85.36 on Thursday. The firm has a market cap of $26.27 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 7.12 and a beta of -0.05. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The company’s fifty day simple moving average is $74.55 and its 200 day simple moving average is $66.03.

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.