Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Acquired by Accurate Wealth Management LLC

Accurate Wealth Management LLC boosted its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 33.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,380 shares of the company’s stock after purchasing an additional 7,124 shares during the period. Accurate Wealth Management LLC’s holdings in Zoom Video Communications were worth $2,255,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ZM. Baker Avenue Asset Management LP grew its stake in shares of Zoom Video Communications by 82.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock worth $1,994,000 after purchasing an additional 12,890 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Zoom Video Communications during the second quarter worth approximately $763,000. HighTower Advisors LLC grew its position in Zoom Video Communications by 449.4% in the third 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. Robeco Institutional Asset Management B.V. increased its holdings in shares of Zoom Video Communications by 15.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock valued at $87,713,000 after buying an additional 167,618 shares in the last quarter. Finally, National Pension Service lifted its position in shares of Zoom Video Communications by 30.1% during the 3rd quarter. National Pension Service now owns 655,227 shares of the company’s stock valued at $45,696,000 after acquiring an additional 151,728 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $79.20 on Wednesday. The firm has a market cap of $24.27 billion, a price-to-earnings ratio of 26.40, a P/E/G ratio of 5.29 and a beta of -0.01. The stock has a 50-day simple moving average of $83.05 and a 200-day simple moving average of $71.39. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Insider Activity at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,551 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $131,741.94. Following the completion of the sale, the chief accounting officer now owns 3,251 shares in the company, valued at approximately $276,139.94. This represents a 32.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 35,722 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $71.45, for a total value of $2,552,336.90. Following the completion of the transaction, the chief executive officer now directly owns 57,371 shares in the company, valued at $4,099,157.95. The trade was a 38.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 370,592 shares of company stock valued at $28,972,914. 10.78% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ZM shares. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Tuesday, November 26th. Mizuho lifted their price target on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Barclays lifted their target price on shares of Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Finally, Benchmark upped their price target on shares of Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and a consensus target price of $87.81.

About Zoom Video Communications

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.