VisionPoint Advisory Group LLC Takes $63,000 Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

VisionPoint Advisory Group LLC purchased a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 768 shares of the company’s stock, valued at approximately $63,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global X Japan Co. Ltd. raised its stake in Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after buying an additional 190 shares in the last quarter. Avior Wealth Management LLC raised its stake in 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 buying an additional 265 shares in the last quarter. Truvestments Capital LLC bought a new position in Zoom Video Communications in the third quarter worth approximately $37,000. Geneos Wealth Management Inc. bought a new position in Zoom Video Communications in the fourth quarter worth approximately $39,000. Finally, Allworth Financial LP raised its stake in Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after buying an additional 180 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ZM has been the subject of a number of recent research reports. JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Stifel Nicolaus boosted their price objective 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. Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a report on Friday, November 22nd. Barclays lifted their price target on shares of Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Finally, Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Sixteen equities research 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 stock. According to MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and a consensus target price of $89.48.

Insider Buying and Selling 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 on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Aparna Bawa sold 9,317 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the sale, the chief operating officer now directly owns 14,053 shares in the company, valued at approximately $1,105,830.57. The trade was a 39.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 382,242 shares of company stock valued at $31,230,938. 10.78% of the stock is owned by insiders.

Zoom Video Communications Price Performance

Shares of ZM opened at $82.50 on Friday. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The firm has a market capitalization of $25.29 billion and a PE ratio of 27.50. The company’s fifty day moving average price is $83.21 and its 200-day moving average price is $75.90.

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.