Newbridge Financial Services Group Inc. Sells 203 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Newbridge Financial Services Group Inc. reduced its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 21.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 750 shares of the company’s stock after selling 203 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Zoom Video Communications were worth $61,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Global X Japan Co. Ltd. raised its stake in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after acquiring an additional 190 shares in the last quarter. Avior Wealth Management LLC grew its holdings 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 valued at $29,000 after purchasing an additional 265 shares during the last quarter. Truvestments Capital LLC purchased a new position in Zoom Video Communications in the 3rd quarter worth $37,000. Geneos Wealth Management Inc. purchased a new position in Zoom Video Communications in the 4th quarter worth $39,000. Finally, Allworth Financial LP lifted 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 purchasing an additional 180 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on ZM. Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $100.00 in a report on Thursday, December 19th. Sanford C. Bernstein lifted their price target 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. UBS Group increased their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Stifel Nicolaus lifted their target price 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. Finally, Mizuho increased their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Sixteen equities research 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 MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $89.10.

Insider Buying and Selling

In related news, CEO Eric S. Yuan sold 118,036 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $79.03, for a total value of $9,328,385.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Aparna Bawa sold 9,317 shares of the company’s stock in a transaction dated 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 approximately $1,105,830.57. The trade was a 39.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 382,242 shares of company stock valued at $31,230,938 over the last quarter. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

NASDAQ:ZM opened at $87.10 on Tuesday. The firm’s 50-day moving average price is $83.18 and its 200-day moving average price is $74.55. The company has a market capitalization of $26.70 billion and a PE ratio of 29.03. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

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.