Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Purchased by Verus Capital Partners LLC

Verus Capital Partners LLC boosted its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,549 shares of the company’s stock after acquiring an additional 378 shares during the period. Verus Capital Partners LLC’s holdings in Zoom Video Communications were worth $1,351,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Global X Japan Co. Ltd. grew 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 acquiring an additional 190 shares during the last quarter. Avior Wealth Management LLC boosted its stake in 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 period. Truvestments Capital LLC bought a new position in Zoom Video Communications in the 3rd quarter worth about $37,000. Geneos Wealth Management Inc. bought a new position in Zoom Video Communications in the 4th quarter worth about $39,000. Finally, Allworth Financial LP increased 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 during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Stock Down 1.7 %

ZM opened at $72.88 on Friday. The firm has a market capitalization of $22.34 billion and a P/E ratio of 24.29. The stock has a fifty day moving average of $82.54 and a 200-day moving average of $76.63. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Shane Crehan sold 1,551 shares of Zoom Video Communications 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 sale, the chief accounting officer now directly owns 3,251 shares of the company’s stock, valued at $276,139.94. This trade represents a 32.30 % decrease in their position. 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.

Wall Street Analysts Forecast Growth

ZM has been the subject of several analyst reports. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday. Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $100.00 in a report on Thursday, December 19th. Sanford C. Bernstein upped their price objective on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a report on Tuesday, November 26th. Finally, Benchmark reiterated a “buy” rating and issued a $97.00 target price on shares of Zoom Video Communications in a research report on Tuesday. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.05.

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.