Prakash Investment Advisors LLC Purchases New Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Prakash Investment Advisors LLC purchased a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,010 shares of the company’s stock, valued at approximately $980,000. Zoom Video Communications accounts for about 1.0% of Prakash Investment Advisors LLC’s investment portfolio, making the stock its 21st biggest holding.

Other hedge funds have also bought and sold shares of the company. Baker Avenue Asset Management LP boosted its holdings in Zoom Video Communications by 82.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after acquiring an additional 12,890 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after acquiring an additional 52,039 shares during the last quarter. Merit Financial Group LLC purchased a new position in Zoom Video Communications during the 4th quarter worth $1,072,000. Robeco Institutional Asset Management B.V. boosted its holdings in Zoom Video Communications by 15.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after acquiring an additional 167,618 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in Zoom Video Communications during the 3rd quarter worth $62,038,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Trading Down 2.0 %

Shares of NASDAQ ZM opened at $83.45 on Friday. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The firm has a market capitalization of $25.58 billion and a price-to-earnings ratio of 27.82. The business has a 50-day moving average of $83.28 and a 200-day moving average of $75.85.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,333 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total value of $6,958,305.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Shane Crehan sold 1,551 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the sale, the chief accounting officer now directly owns 3,251 shares of the company’s stock, valued at approximately $276,139.94. This represents a 32.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 382,242 shares of company stock valued at $31,230,938. 10.78% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ZM has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. The Goldman Sachs Group lifted their target price on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. Sanford C. Bernstein lifted their target price on Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley lifted their target price on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Sixteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and an average price target 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.