Newbridge Financial Services Group Inc. Decreases Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Newbridge Financial Services Group Inc. lowered its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 21.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 750 shares of the company’s stock after selling 203 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Zoom Video Communications were worth $61,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in ZM. Global X Japan Co. Ltd. lifted its position in Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after purchasing an additional 190 shares during the period. Avior Wealth Management LLC grew its position in Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. Truvestments Capital LLC purchased a new stake in Zoom Video Communications during the 3rd quarter valued at $37,000. Geneos Wealth Management Inc. bought a new position in shares of Zoom Video Communications during the 4th quarter valued at $39,000. Finally, Allworth Financial LP boosted its stake in shares of Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after buying an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

Zoom Video Communications stock opened at $87.10 on Tuesday. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The firm’s 50 day moving average price is $83.18 and its 200-day moving average price is $74.55. The stock has a market cap of $26.70 billion and a P/E ratio of 29.03.

Insider Activity at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,551 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $131,741.94. Following the sale, the chief accounting officer now owns 3,251 shares of the company’s stock, valued at $276,139.94. This represents a 32.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 382,242 shares of company stock valued at $31,230,938. Corporate insiders own 10.78% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ZM. The Goldman Sachs Group upped their price objective 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. Sanford C. Bernstein upped their price target on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research report on Tuesday, November 26th. Stifel Nicolaus increased their price objective on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. Wedbush began coverage on shares of Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price for the company. Finally, Barclays increased their price target on shares of Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.