Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Galvin Gaustad & Stein LLC

Galvin Gaustad & Stein LLC cut its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 91.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,786 shares of the company’s stock after selling 282,189 shares during the quarter. Galvin Gaustad & Stein LLC’s holdings in Zoom Video Communications were worth $2,268,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Avior Wealth Management LLC increased its holdings in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after buying an additional 265 shares during the last quarter. Truvestments Capital LLC acquired a new position in Zoom Video Communications in the third quarter valued at approximately $37,000. Allworth Financial LP boosted its stake in 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 acquiring an additional 180 shares during the period. Venturi Wealth Management LLC raised its holdings in Zoom Video Communications by 56.0% during the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after purchasing an additional 274 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Zoom Video Communications by 27.1% during the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after purchasing an additional 164 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $78.17 on Thursday. The firm has a 50-day simple moving average of $82.56 and a 200 day simple moving average of $72.15. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The stock has a market cap of $23.96 billion, a PE ratio of 26.03, a PEG ratio of 4.94 and a beta of -0.01.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, Director Jonathan Chadwick sold 25,000 shares of the firm’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 completion of the transaction, the director now owns 1,514 shares in the company, valued at $121,619.62. This trade represents a 94.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Shane Crehan sold 1,412 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $111,110.28. Following the transaction, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at approximately $425,240.76. This represents a 20.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 489,981 shares of company stock worth $38,712,948. Company insiders own 10.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Stifel Nicolaus upped their price target on Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday, November 26th. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a report on Friday, November 22nd. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their target price for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. Finally, Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Sixteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Zoom Video Communications has an average rating of “Hold” and an average price target of $89.10.

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.