Illumine Investment Management LLC Acquires New Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Illumine Investment Management LLC bought a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 24,447 shares of the company’s stock, valued at approximately $1,995,000. Zoom Video Communications comprises 1.6% of Illumine Investment Management LLC’s investment portfolio, making the stock its 21st largest holding.

Other institutional investors have also added to or reduced their stakes in the company. Baker Avenue Asset Management LP boosted its stake in Zoom Video Communications by 82.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after purchasing an additional 12,890 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Zoom Video Communications by 449.4% in the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after buying an additional 52,039 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Zoom Video Communications in the 4th quarter worth $1,072,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Zoom Video Communications by 15.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after buying an additional 167,618 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in shares of Zoom Video Communications in the 3rd quarter worth $62,038,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on ZM shares. Citigroup lowered their target price on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Sanford C. Bernstein lifted their target price on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group lifted their target price on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Stifel Nicolaus lowered their target price on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a report on Tuesday. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $90.05.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $72.88 on Friday. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The stock’s 50 day simple moving average is $82.54 and its two-hundred day simple moving average is $76.63. The company has a market cap of $22.34 billion and a PE ratio of 24.29.

Insider Transactions at Zoom Video Communications

In related news, COO Aparna Bawa sold 9,317 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the transaction, the chief operating officer now owns 14,053 shares of the company’s stock, valued at $1,105,830.57. This represents a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Shane Crehan sold 1,412 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the sale, the chief accounting officer now directly owns 5,404 shares in the company, valued at $425,240.76. This trade represents a 20.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 382,242 shares of company stock worth $31,230,938. 10.78% of the stock is currently owned by company insiders.

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.