Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Purchased by Alhambra Investment Management LLC

Alhambra Investment Management LLC boosted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 16.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,459 shares of the company’s stock after purchasing an additional 1,364 shares during the quarter. Alhambra Investment Management LLC’s holdings in Zoom Video Communications were worth $772,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Truvestments Capital LLC bought a new position in shares of Zoom Video Communications during the third quarter worth about $37,000. Allworth Financial LP raised its stake in Zoom Video Communications by 43.8% during 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. Venturi Wealth Management LLC lifted its holdings in Zoom Video Communications by 56.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after buying an additional 274 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Zoom Video Communications by 27.1% in the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after acquiring an additional 164 shares in the last quarter. Finally, True Wealth Design LLC increased its holdings in shares of Zoom Video Communications by 10,763.6% in the 3rd quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock valued at $83,000 after acquiring an additional 1,184 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ZM. UBS Group increased their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, January 10th. Cantor Fitzgerald began coverage on Zoom Video Communications in a research note on Friday. They set a “neutral” rating and a $87.00 price objective for the company. Finally, Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $87.77.

Zoom Video Communications Stock Performance

Shares of ZM opened at $78.07 on Friday. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The company has a market capitalization of $23.93 billion, a PE ratio of 26.02, a PEG ratio of 4.97 and a beta of -0.01. The company’s 50 day moving average price is $83.05 and its 200 day moving average price is $71.50.

Insider Activity

In other news, 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 transaction, the chief operating officer now owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. This represents a 39.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eric S. Yuan sold 35,722 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $71.45, for a total value of $2,552,336.90. Following the transaction, the chief executive officer now owns 57,371 shares in the company, valued at approximately $4,099,157.95. This trade represents a 38.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 525,703 shares of company stock worth $41,265,285 in the last three months. 10.78% of the stock is owned by insiders.

Zoom Video Communications Company 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.