Atomi Financial Group Inc. Grows Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Atomi Financial Group Inc. increased its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 6.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,677 shares of the company’s stock after buying an additional 376 shares during the quarter. Atomi Financial Group Inc.’s holdings in Zoom Video Communications were worth $545,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ZM. Itau Unibanco Holding S.A. grew its stake in shares of Zoom Video Communications by 1.9% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after purchasing an additional 131 shares during the last quarter. MML Investors Services LLC grew its stake in shares of Zoom Video Communications by 1.4% in the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after purchasing an additional 132 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Zoom Video Communications by 1.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock valued at $556,000 after purchasing an additional 145 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after purchasing an additional 154 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake 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 valued at $63,000 after purchasing an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Activity

In other Zoom Video Communications news, Director Jonathan Chadwick sold 25,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the completion of the sale, the director now owns 1,514 shares of the company’s stock, valued at approximately $121,619.62. The trade was a 94.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Shane Crehan sold 1,412 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the sale, the chief accounting officer now directly owns 5,404 shares of the company’s stock, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 489,981 shares of company stock valued at $38,712,948 over the last quarter. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Up 0.9 %

NASDAQ ZM opened at $80.01 on Friday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The stock has a market cap of $24.52 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 4.94 and a beta of -0.01. The business has a fifty day moving average of $82.56 and a 200-day moving average of $72.15.

Analysts Set New Price Targets

ZM has been the topic of several analyst reports. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $70.00 to $115.00 in a research note on Tuesday, November 26th. UBS Group raised their price target on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Morgan Stanley raised their price target on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $100.00 in a report on Thursday, December 19th. Finally, The Goldman Sachs Group raised their price target 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 investment 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $89.10.

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.