Poinciana Advisors Group LLC Takes $399,000 Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Poinciana Advisors Group LLC purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,891 shares of the company’s stock, valued at approximately $399,000.

Other large investors have also recently made changes to their positions in the company. Global X Japan Co. Ltd. lifted its stake in shares of Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after purchasing an additional 190 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 258 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of Zoom Video Communications during the 3rd quarter worth about $37,000. Finally, Geneos Wealth Management Inc. acquired a new position in Zoom Video Communications during the fourth quarter worth approximately $39,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

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 dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the sale, the chief operating officer now directly owns 14,053 shares of the company’s stock, valued at $1,105,830.57. The trade was a 39.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eric S. Yuan sold 33,751 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total transaction of $2,655,866.19. Following the completion of the sale, the chief executive officer now directly owns 34,703 shares in the company, valued at approximately $2,730,779.07. The trade was a 49.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 369,271 shares of company stock worth $29,496,892. Insiders own 10.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays lowered their target price on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Benchmark reiterated a “buy” rating and set a $97.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday, November 26th. Finally, Stifel Nicolaus dropped their target price on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a research note on Tuesday, February 25th. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $90.05.

Zoom Video Communications Price Performance

ZM stock opened at $74.20 on Friday. The company has a 50 day moving average price of $80.44 and a 200 day moving average price of $77.63. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The stock has a market capitalization of $22.65 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.

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.