Global Wealth Strategies & Associates Lowers Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Global Wealth Strategies & Associates lowered its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 35.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,500 shares of the company’s stock after selling 1,962 shares during the quarter. Global Wealth Strategies & Associates’ holdings in Zoom Video Communications were worth $286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in shares of Zoom Video Communications during the third quarter worth $37,000. Allworth Financial LP increased its stake in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after buying an additional 180 shares during the period. Venturi Wealth Management LLC lifted its holdings in Zoom Video Communications by 56.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after buying an additional 274 shares in the last quarter. True Wealth Design LLC increased its position in shares of Zoom Video Communications by 10,763.6% during the third quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock worth $83,000 after acquiring an additional 1,184 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Zoom Video Communications by 69.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,685 shares of the company’s stock worth $102,000 after acquiring an additional 692 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

Shares of ZM traded down $0.26 during trading hours on Thursday, hitting $81.35. The stock had a trading volume of 897,949 shares, compared to its average volume of 3,302,336. The stock has a market capitalization of $24.93 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 5.29 and a beta of -0.03. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The company’s fifty day moving average is $82.03 and its two-hundred day moving average is $69.86.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ZM shares. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research note on Friday, October 11th. The Goldman Sachs Group boosted their price target on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $100.00 in a report on Thursday, December 19th. Wells Fargo & Company lifted their price target on shares of Zoom Video Communications from $60.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, November 26th. Finally, Piper Sandler raised their target price on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $87.10.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CAO Shane Crehan sold 2,478 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $69.09, for a total value of $171,205.02. Following the completion of the sale, the chief accounting officer now directly owns 2,383 shares in the company, valued at $164,641.47. This represents a 50.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 3,618 shares of the company’s 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 transaction, the insider now owns 107,826 shares of the company’s stock, valued at $9,158,740.44. This trade represents a 3.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 419,612 shares of company stock worth $31,763,516. 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.