10,408 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Purchased by Dakota Wealth Management

Dakota Wealth Management bought a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,408 shares of the company’s stock, valued at approximately $849,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Baker Avenue Asset Management LP boosted its stake in Zoom Video Communications by 82.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after purchasing an additional 12,890 shares during the period. Sanctuary Advisors LLC bought a new position in Zoom Video Communications in the 2nd quarter worth approximately $763,000. HighTower Advisors LLC raised its stake in Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after acquiring an additional 52,039 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Zoom Video Communications by 15.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after acquiring an additional 167,618 shares during the period. Finally, Merit Financial Group LLC bought a new position in shares of Zoom Video Communications in the fourth quarter worth $1,072,000. 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 $80.17 on Friday. The firm has a 50 day simple moving average of $82.51 and a 200 day simple moving average of $72.20. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The company has a market cap of $24.57 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 4.99 and a beta of -0.01.

Insider Activity

In other news, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total value of $2,008,250.00. Following the completion of the sale, the director now directly owns 1,514 shares of the company’s stock, valued at $121,619.62. This represents a 94.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 in the company, valued at approximately $9,158,740.44. This represents a 3.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 489,981 shares of company stock worth $38,712,948 over the last quarter. Corporate insiders own 10.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Benchmark lifted their price objective on shares of Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler upped their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Friday, January 10th. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $70.00 to $115.00 in a research report on Tuesday, November 26th. Finally, Wedbush assumed coverage on Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target on the stock. Sixteen 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $89.10.

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.