Aaron Wealth Advisors LLC Boosts Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Aaron Wealth Advisors LLC raised its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 28.6% during the 4th quarter, Holdings Channel reports. The firm owned 5,071 shares of the company’s stock after buying an additional 1,128 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Zoom Video Communications were worth $414,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Baker Avenue Asset Management LP increased its holdings in Zoom Video Communications by 82.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after buying an additional 12,890 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Zoom Video Communications during the second quarter worth $763,000. HighTower Advisors LLC lifted its position in Zoom Video Communications by 449.4% during the third 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 during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Zoom Video Communications by 15.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock valued at $87,713,000 after purchasing an additional 167,618 shares during the last quarter. Finally, Eagle Asset Management Inc. acquired a new stake in Zoom Video Communications during the 3rd quarter worth about $62,038,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Evercore ISI upgraded 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 research report on Tuesday, November 26th. The Goldman Sachs Group raised their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. UBS Group upped their target price on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Rosenblatt Securities reissued a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a report on Friday, November 22nd. Finally, Stifel Nicolaus increased their price objective on shares of Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday, November 26th. Sixteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $89.10.

Insider Buying and Selling

In related news, CAO Shane Crehan sold 1,551 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the sale, the chief accounting officer now owns 3,251 shares in the company, valued at approximately $276,139.94. This trade represents a 32.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was 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. Over the last three months, insiders sold 489,981 shares of company stock worth $38,712,948. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Down 1.7 %

Zoom Video Communications stock opened at $78.07 on Monday. The company has a 50-day moving average price of $82.98 and a 200 day moving average price of $71.73. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The stock has a market cap of $23.93 billion, a P/E ratio of 26.02, a PEG ratio of 4.97 and a beta of -0.01.

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.