Adero Partners LLC Grows Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Adero Partners LLC lifted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,509 shares of the company’s stock after buying an additional 129 shares during the quarter. Adero Partners LLC’s holdings in Zoom Video Communications were worth $450,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC grew its position in shares of Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the period. Truvestments Capital LLC acquired a new stake in Zoom Video Communications in the third quarter valued at approximately $37,000. Geneos Wealth Management Inc. acquired a new stake in Zoom Video Communications in the fourth quarter valued at approximately $39,000. Allworth Financial LP increased its position in shares of Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after buying an additional 180 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Zoom Video Communications by 56.0% during the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after purchasing an additional 274 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZM has been the subject of several research reports. Wells Fargo & Company raised shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Jefferies Financial Group upgraded shares of Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. Scotiabank raised Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Mizuho boosted their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Finally, Benchmark upped their target price on shares of Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Sixteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $89.10.

Zoom Video Communications Stock Performance

Shares of ZM opened at $85.99 on Thursday. The company has a market cap of $26.36 billion and a price-to-earnings ratio of 28.66. The stock has a fifty day moving average price of $83.08 and a two-hundred day moving average price of $73.96. 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 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 value of $2,008,250.00. Following the completion of the transaction, the director now directly 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 the SEC website. Also, CAO Shane Crehan sold 1,551 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $131,741.94. Following the sale, the chief accounting officer now directly owns 3,251 shares in the company, valued at approximately $276,139.94. This represents a 32.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 298,910 shares of company stock worth $24,041,053. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Company 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.