Corient Private Wealth LLC Raises Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Corient Private Wealth LLC increased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZMFree Report) by 12.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,166 shares of the company’s stock after buying an additional 777 shares during the quarter. Corient Private Wealth LLC’s holdings in Zoom Video Communications were worth $515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ZM. Principal Securities Inc. acquired a new position in Zoom Video Communications during the 4th quarter valued at approximately $25,000. Quadrant Capital Group LLC increased its position in shares of Zoom Video Communications by 269.7% in the 4th quarter. Quadrant Capital Group LLC now owns 366 shares of the company’s stock valued at $26,000 after acquiring an additional 267 shares during the period. Rakuten Securities Inc. purchased a new position in Zoom Video Communications in the 4th quarter worth $43,000. GAMMA Investing LLC acquired a new stake in Zoom Video Communications during the 4th quarter worth about $48,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in Zoom Video Communications by 134.7% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 704 shares of the company’s stock valued at $51,000 after purchasing an additional 404 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ZM. Citigroup lifted their target price on Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Sanford C. Bernstein decreased their price objective on shares of Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating for the company in a research note on Tuesday, May 21st. Mizuho cut their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Wedbush restated a “neutral” rating and set a $80.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Finally, Stifel Nicolaus cut their price target on Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a research report on Tuesday, May 21st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $76.18.

Check Out Our Latest Research Report on Zoom Video Communications

Zoom Video Communications Stock Up 1.6 %

ZM opened at $63.11 on Friday. The company has a market cap of $19.52 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 9.64 and a beta of -0.01. Zoom Video Communications, Inc. has a 52-week low of $58.87 and a 52-week high of $75.90. The firm’s fifty day simple moving average is $62.25 and its two-hundred day simple moving average is $65.84.

Insider Buying and Selling

In related news, COO Aparna Bawa sold 874 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $61.78, for a total value of $53,995.72. Following the transaction, the chief operating officer now directly owns 2,814 shares of the company’s stock, valued at approximately $173,848.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Santiago Subotovsky sold 1,100 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $65.38, for a total value of $71,918.00. Following the transaction, the director now directly owns 154,459 shares of the company’s stock, valued at approximately $10,098,529.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Aparna Bawa sold 874 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $61.78, for a total transaction of $53,995.72. Following the completion of the transaction, the chief operating officer now directly owns 2,814 shares in the company, valued at $173,848.92. The disclosure for this sale can be found here. Insiders sold a total of 99,977 shares of company stock worth $6,218,763 in the last 90 days. Insiders own 10.78% of the company’s stock.

About Zoom Video Communications

(Free Report)

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.

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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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