Corient Private Wealth LLC Has $4.96 Million Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Corient Private Wealth LLC raised its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 265.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,750 shares of the company’s stock after purchasing an additional 44,109 shares during the quarter. Corient Private Wealth LLC’s holdings in Zoom Video Communications were worth $4,957,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ZM. Quest Partners LLC grew its stake in Zoom Video Communications by 28.2% in the third quarter. Quest Partners LLC now owns 9,214 shares of the company’s stock valued at $643,000 after purchasing an additional 2,029 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in Zoom Video Communications by 22.2% in the third quarter. Banque Cantonale Vaudoise now owns 5,253 shares of the company’s stock valued at $366,000 after purchasing an additional 956 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Zoom Video Communications in the third quarter valued at about $443,000. Primecap Management Co. CA grew its stake in Zoom Video Communications by 0.7% in the third quarter. Primecap Management Co. CA now owns 1,289,150 shares of the company’s stock valued at $89,905,000 after purchasing an additional 8,625 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Zoom Video Communications by 6.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,297,443 shares of the company’s stock valued at $90,484,000 after purchasing an additional 78,940 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Transactions at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 10,817 shares of the stock in a transaction that occurred on 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 directly owns 117,760 shares of the company’s stock, valued at approximately $9,266,534.40. This represents a 8.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 369,271 shares of company stock valued at $29,496,892. Corporate insiders own 10.78% of the company’s stock.

Analyst Upgrades and Downgrades

ZM has been the subject of several recent analyst reports. Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. Cantor Fitzgerald reiterated a “neutral” rating and set a $87.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Sanford C. Bernstein upped their price target on Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday. Fifteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $89.33.

Zoom Video Communications Trading Down 0.1 %

Shares of ZM opened at $75.97 on Friday. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The stock has a 50 day simple moving average of $79.98 and a 200-day simple moving average of $77.82. The stock has a market cap of $23.19 billion, a PE ratio of 25.32, a PEG ratio of 5.48 and a beta of 0.26.

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.