McAdam LLC Makes New Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

McAdam LLC acquired a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, HoldingsChannel reports. The fund acquired 5,028 shares of the company’s stock, valued at approximately $410,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. SYM FINANCIAL Corp lifted its stake in Zoom Video Communications by 36.2% in the fourth quarter. SYM FINANCIAL Corp now owns 4,577 shares of the company’s stock worth $374,000 after acquiring an additional 1,216 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Zoom Video Communications by 5.6% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,418 shares of the company’s stock worth $687,000 after purchasing an additional 448 shares during the period. Chicago Partners Investment Group LLC bought a new stake in shares of Zoom Video Communications during the 4th quarter valued at about $315,000. Caprock Group LLC purchased a new position in shares of Zoom Video Communications during the fourth quarter valued at about $288,000. Finally, Mediolanum International Funds Ltd raised its stake in Zoom Video Communications by 16.1% in the fourth quarter. Mediolanum International Funds Ltd now owns 210,063 shares of the company’s stock worth $17,336,000 after buying an additional 29,206 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ZM. Rosenblatt Securities reaffirmed a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research report on Friday, November 22nd. Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. Benchmark raised their price objective on Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $70.00 to $115.00 in a research report on Tuesday, November 26th. Finally, Stifel Nicolaus increased their price target 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. Sixteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $89.10.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $86.94 on Monday. The business has a 50-day simple moving average of $83.08 and a two-hundred day simple moving average of $73.48. The firm has a market cap of $26.65 billion and a price-to-earnings ratio of 28.98. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,618 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $307,312.92. Following the completion of the sale, the insider now directly owns 107,826 shares of the company’s stock, valued at approximately $9,158,740.44. This represents a 3.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Shane Crehan sold 1,551 shares of Zoom Video Communications stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $131,741.94. Following the transaction, the chief accounting officer now owns 3,251 shares in the company, valued at $276,139.94. This represents a 32.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,481 shares of company stock worth $37,774,948 over the last quarter. Company insiders own 10.78% of the company’s stock.

About Zoom Video Communications

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.