Mission Wealth Management LP Sells 141 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Mission Wealth Management LP reduced its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,410 shares of the company’s stock after selling 141 shares during the quarter. Mission Wealth Management LP’s holdings in Zoom Video Communications were worth $605,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of ZM. Global X Japan Co. Ltd. increased its stake in Zoom Video Communications by 127.5% in the 4th 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 increased its stake in Zoom Video Communications by 291.2% in the 4th 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. Parkside Financial Bank & Trust increased its stake in Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after buying an additional 258 shares in the last quarter. Truvestments Capital LLC purchased a new stake in Zoom Video Communications in the 3rd quarter worth $37,000. Finally, Geneos Wealth Management Inc. purchased a new stake in Zoom Video Communications in the 4th quarter worth $39,000. 66.54% of the stock is owned by institutional investors.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM opened at $74.93 on Wednesday. The business’s 50 day moving average is $81.87 and its two-hundred day moving average is $77.27. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The stock has a market capitalization of $22.97 billion and a P/E ratio of 24.98.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Mizuho increased their price target on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $87.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Stifel Nicolaus reduced their target price on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Fifteen 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 data from MarketBeat, Zoom Video Communications has an average rating of “Hold” and an average price target of $90.05.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 9,317 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the transaction, the chief operating officer now owns 14,053 shares in the company, valued at $1,105,830.57. The trade was a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 33,751 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total value of $2,655,866.19. Following the transaction, the chief executive officer now owns 34,703 shares of the company’s stock, valued at $2,730,779.07. This trade represents a 49.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 298,909 shares of company stock worth $24,272,632 over the last 90 days. 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.