Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Everhart Financial Group Inc.

Everhart Financial Group Inc. increased its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 15.5% in the fourth quarter, Holdings Channel reports. The firm owned 6,098 shares of the company’s stock after purchasing an additional 820 shares during the quarter. Everhart Financial Group Inc.’s holdings in Zoom Video Communications were worth $498,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in Zoom Video Communications by 0.7% in the fourth quarter. Rhumbline Advisers now owns 313,425 shares of the company’s stock valued at $25,579,000 after acquiring an additional 2,251 shares during the period. New York State Teachers Retirement System boosted its stake in Zoom Video Communications by 5.3% in the fourth quarter. New York State Teachers Retirement System now owns 24,127 shares of the company’s stock valued at $1,969,000 after acquiring an additional 1,206 shares during the period. Asset Management One Co. Ltd. boosted its stake in Zoom Video Communications by 8.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 93,872 shares of the company’s stock valued at $7,868,000 after acquiring an additional 7,518 shares during the period. Van ECK Associates Corp boosted its stake in Zoom Video Communications by 87.4% in the fourth quarter. Van ECK Associates Corp now owns 78,679 shares of the company’s stock valued at $6,421,000 after acquiring an additional 36,695 shares during the period. Finally, Certuity LLC acquired a new position in Zoom Video Communications in the fourth quarter valued at approximately $315,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $85.10 on Monday. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The stock has a market cap of $26.08 billion and a price-to-earnings ratio of 28.37. The firm’s 50 day moving average price is $83.29 and its two-hundred day moving average price is $75.30.

Insiders Place Their Bets

In other news, CAO Shane Crehan sold 1,551 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $131,741.94. Following the transaction, the chief accounting officer now directly owns 3,251 shares in the company, valued at $276,139.94. The trade was a 32.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Velchamy Sankarlingam sold 3,618 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $307,312.92. Following the transaction, the insider now owns 107,826 shares in the company, valued at approximately $9,158,740.44. This represents a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 382,242 shares of company stock worth $31,230,938. Corporate insiders own 10.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ZM shares. Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Bank of America lifted their price target on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Barclays lifted their price target on Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Friday, January 10th. Finally, Cantor Fitzgerald initiated coverage on Zoom Video Communications in a report on Friday, January 17th. They set a “neutral” rating and a $87.00 price target on the stock. Sixteen investment 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $89.10.

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.