Edgestream Partners L.P. Purchases Shares of 10,123 Zoom Video Communications, Inc. (NASDAQ:ZM)

Edgestream Partners L.P. purchased a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,123 shares of the company’s stock, valued at approximately $826,000.

A number of other institutional investors also recently made changes to their positions in the company. Global X Japan Co. Ltd. increased 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 worth $28,000 after acquiring an additional 190 shares during the period. Avior Wealth Management LLC boosted its holdings in Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 258 shares during the period. Truvestments Capital LLC bought a new position in shares of Zoom Video Communications during the third quarter worth approximately $37,000. Finally, Geneos Wealth Management Inc. bought a new position in shares of Zoom Video Communications during the fourth quarter worth approximately $39,000. Institutional investors own 66.54% of the company’s stock.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CAO Shane Crehan sold 1,412 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $111,110.28. Following the sale, the chief accounting officer now owns 5,404 shares in the company, valued at approximately $425,240.76. The trade was a 20.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 10,817 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 value of $851,189.73. Following the transaction, the insider now owns 117,760 shares of the company’s stock, valued at $9,266,534.40. This trade represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 369,271 shares of company stock worth $29,496,892. Insiders own 10.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ZM shares. Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Piper Sandler raised their price target on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Sanford C. Bernstein upped their price objective on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 26th. Wells Fargo & Company raised shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Finally, Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $90.05.

Zoom Video Communications Stock Down 0.4 %

Shares of ZM stock opened at $73.15 on Wednesday. The firm has a market capitalization of $22.42 billion, a P/E ratio of 24.38, a P/E/G ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The stock’s fifty day simple moving average is $80.95 and its 200 day simple moving average is $77.67.

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.