Certuity LLC Takes $315,000 Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Certuity LLC purchased a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,866 shares of the company’s stock, valued at approximately $315,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ZM. Capital Wealth Alliance LLC bought a new stake in Zoom Video Communications in the 4th quarter valued at about $502,000. Cigna Investments Inc. New acquired a new stake in shares of Zoom Video Communications in the fourth quarter valued at approximately $218,000. Summit Trail Advisors LLC bought a new stake in shares of Zoom Video Communications during the fourth quarter valued at approximately $489,000. Savant Capital LLC raised its holdings in shares of Zoom Video Communications by 5.4% during the fourth quarter. Savant Capital LLC now owns 34,400 shares of the company’s stock valued at $2,807,000 after buying an additional 1,773 shares during the last quarter. Finally, Global X Japan Co. Ltd. boosted its position 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 buying an additional 190 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

ZM stock opened at $83.05 on Thursday. The firm has a market capitalization of $25.45 billion and a P/E ratio of 27.68. The company’s 50 day simple moving average is $83.29 and its 200-day simple moving average is $74.91. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CAO Shane Crehan sold 1,551 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the sale, the chief accounting officer now directly owns 3,251 shares of the company’s stock, valued at $276,139.94. The trade was a 32.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 83,332 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 382,242 shares of company stock valued at $31,230,938. Company insiders own 10.78% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on ZM. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. UBS Group upped their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Benchmark raised their target price on shares of Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Wells Fargo & Company raised shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. Finally, Bank of America raised their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Sixteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Zoom Video Communications has an average rating of “Hold” and an average target price of $89.10.

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.