Whalen Wealth Management Inc. Invests $251,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Whalen Wealth Management Inc. bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, Holdings Channel.com reports. The fund bought 3,074 shares of the company’s stock, valued at approximately $251,000.

Several other large investors have also recently bought and sold shares of ZM. Avior Wealth Management LLC lifted its position in shares of Zoom Video Communications by 291.2% in 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 during the period. Truvestments Capital LLC acquired a new position in shares of Zoom Video Communications in the third quarter valued at $37,000. Allworth Financial LP raised its stake in shares of Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares in the last quarter. Venturi Wealth Management LLC lifted its position in Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after purchasing an additional 274 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Zoom Video Communications by 27.1% during the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after buying an additional 164 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Trading Up 0.9 %

Shares of ZM stock opened at $79.28 on Thursday. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The firm’s 50 day moving average is $82.56 and its 200-day moving average is $72.15. The firm has a market capitalization of $24.30 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 4.94 and a beta of -0.01.

Insider Buying and Selling

In other news, insider Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock in a transaction that occurred 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 completion of the sale, the insider now owns 107,826 shares in the company, valued at $9,158,740.44. The trade was a 3.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Shane Crehan sold 1,551 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 3,251 shares in the company, valued at $276,139.94. This represents a 32.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 489,981 shares of company stock worth $38,712,948 in the last quarter. Insiders own 10.78% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on ZM shares. Barclays raised their price objective on shares of Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Wells Fargo & Company raised shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Sanford C. Bernstein lifted their price objective on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a report on Tuesday, November 26th. Benchmark upped their price objective on Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, The Goldman Sachs Group raised their target price on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $89.10.

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.