Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC lifted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 10.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,624 shares of the company’s stock after purchasing an additional 651 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Zoom Video Communications were worth $541,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Global X Japan Co. Ltd. raised its stake in Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after purchasing an additional 190 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after buying an additional 265 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after buying an additional 258 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Zoom Video Communications during the third quarter valued at approximately $37,000. Finally, Geneos Wealth Management Inc. acquired a new stake in Zoom Video Communications during the fourth quarter worth approximately $39,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $73.47 on Tuesday. The business’s 50-day simple moving average is $81.12 and its 200 day simple moving average is $77.65. The company has a market cap of $22.52 billion, a P/E ratio of 24.49, a PEG ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

Analyst Upgrades and Downgrades

ZM has been the subject of several analyst reports. Piper Sandler boosted their price target on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their target price for the company from $70.00 to $115.00 in a research note on Tuesday, November 26th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Stifel Nicolaus dropped their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a research note on Tuesday, February 25th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen research 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 MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and an average target price of $90.05.

Insider Activity

In other news, CEO Eric S. Yuan sold 118,036 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $79.03, for a total transaction of $9,328,385.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Velchamy Sankarlingam sold 10,817 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $851,189.73. Following the completion of the transaction, the insider now owns 117,760 shares in the company, valued at approximately $9,266,534.40. This trade represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 369,271 shares of company stock worth $29,496,892 over the last 90 days. Company insiders own 10.78% of the company’s stock.

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.