Zoom Video Communications, Inc. (NASDAQ:ZM) Holdings Boosted by Camelot Portfolios LLC

Camelot Portfolios LLC grew its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 12.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,690 shares of the company’s stock after purchasing an additional 990 shares during the period. Camelot Portfolios LLC’s holdings in Zoom Video Communications were worth $709,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ZM. Global X Japan Co. Ltd. grew 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 in the last quarter. Avior Wealth Management LLC increased its stake in shares of Zoom Video Communications by 291.2% in 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 during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications during the third quarter worth $37,000. Geneos Wealth Management Inc. purchased a new position in Zoom Video Communications in the fourth quarter valued at about $39,000. Finally, Allworth Financial LP increased its position in 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 purchasing an additional 180 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Stock Down 1.1 %

Shares of ZM opened at $82.50 on Friday. The stock’s 50-day moving average price is $83.21 and its 200 day moving average price is $75.90. The firm has a market capitalization of $25.29 billion and a price-to-earnings ratio of 27.50. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80.

Insider Activity

In related news, CEO Eric S. Yuan sold 118,036 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $79.03, for a total value of $9,328,385.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Velchamy Sankarlingam sold 3,618 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $307,312.92. Following the completion of the transaction, the insider now directly owns 107,826 shares of the company’s stock, valued at $9,158,740.44. This trade represents a 3.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 382,242 shares of company stock worth $31,230,938. Company insiders own 10.78% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ZM. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Friday, January 10th. Mizuho boosted their target price on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. Finally, Cantor Fitzgerald began coverage on Zoom Video Communications in a report on Friday, January 17th. They set a “neutral” rating and a $87.00 target price 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 company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $89.48.

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.