Vestmark Advisory Solutions Inc. Takes $2 Million Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Vestmark Advisory Solutions Inc. acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 24,493 shares of the company’s stock, valued at approximately $1,999,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Avory & Company LLC grew its position in Zoom Video Communications by 2.0% during the fourth quarter. Avory & Company LLC now owns 302,590 shares of the company’s stock valued at $24,694,000 after acquiring an additional 5,840 shares during the period. Raymond James Financial Inc. purchased a new stake in Zoom Video Communications during the fourth quarter valued at about $99,471,000. Arizona State Retirement System grew its position in Zoom Video Communications by 0.7% during the fourth quarter. Arizona State Retirement System now owns 72,266 shares of the company’s stock valued at $5,898,000 after acquiring an additional 517 shares during the period. Proficio Capital Partners LLC purchased a new stake in Zoom Video Communications during the fourth quarter valued at about $966,000. Finally, M&T Bank Corp grew its position in Zoom Video Communications by 3.7% during the fourth quarter. M&T Bank Corp now owns 12,010 shares of the company’s stock valued at $980,000 after acquiring an additional 425 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ZM. Sanford C. Bernstein boosted their price target on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research report on Tuesday, November 26th. Scotiabank raised Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.05.

Insider Buying and Selling at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 3,618 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 transaction of $307,312.92. Following the completion of the transaction, 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 the SEC website. Also, CAO Shane Crehan sold 1,412 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the transaction, the chief accounting officer now directly owns 5,404 shares of the company’s stock, valued at $425,240.76. This trade represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 374,440 shares of company stock worth $29,935,946 over the last quarter. 10.78% of the stock is owned by corporate insiders.

Zoom Video Communications Stock Up 0.7 %

Shares of NASDAQ ZM opened at $75.98 on Friday. The stock’s 50 day moving average price is $81.31 and its two-hundred day moving average price is $77.36. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The stock has a market capitalization of $23.29 billion, a P/E ratio of 25.33, a PEG ratio of 5.48 and a beta of 0.26.

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.