Midwest Financial Group LLC Sells 260 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Midwest Financial Group LLC lowered its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,160 shares of the company’s stock after selling 260 shares during the quarter. Midwest Financial Group LLC’s holdings in Zoom Video Communications were worth $339,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Silver Lake Advisory LLC increased its holdings in shares of Zoom Video Communications by 13.3% during the fourth quarter. Silver Lake Advisory LLC now owns 40,325 shares of the company’s stock valued at $3,291,000 after acquiring an additional 4,745 shares in the last quarter. Whalen Wealth Management Inc. acquired a new position in shares of Zoom Video Communications during the fourth quarter valued at about $251,000. Avior Wealth Management LLC increased its position in shares of Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. Dakota Wealth Management acquired a new stake in shares of Zoom Video Communications in the 4th quarter worth about $849,000. Finally, Simon Quick Advisors LLC bought a new position in Zoom Video Communications in the 4th quarter valued at about $320,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock opened at $80.97 on Friday. The stock has a market capitalization of $24.82 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 4.99 and a beta of -0.01. The company has a fifty day moving average of $82.56 and a 200-day moving average of $72.15. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, Director Jonathan Chadwick sold 12,500 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total value of $938,000.00. Following the sale, the director now owns 1,514 shares of the company’s stock, valued at $113,610.56. This trade represents a 89.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 3,618 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the transaction, the insider now owns 107,826 shares in the company, valued at approximately $9,158,740.44. This represents a 3.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 489,981 shares of company stock worth $38,712,948 over the last three months. Company insiders own 10.78% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on ZM shares. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, November 26th. The Goldman Sachs Group increased their price target on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a report on Friday, November 22nd. Hsbc Global Res upgraded shares of Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Finally, Cantor Fitzgerald initiated coverage on shares of Zoom Video Communications in a report on Friday, January 17th. They set a “neutral” rating and a $87.00 price target on the stock. Sixteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Zoom Video Communications presently has an average 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.