Simon Quick Advisors LLC Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Simon Quick Advisors LLC purchased a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,917 shares of the company’s stock, valued at approximately $320,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZM. Truvestments Capital LLC purchased a new position in Zoom Video Communications during the third quarter valued at $37,000. Allworth Financial LP raised its position in shares of 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 purchasing an additional 180 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Zoom Video Communications by 56.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after buying an additional 274 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Zoom Video Communications by 27.1% in the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after buying an additional 164 shares during the last quarter. Finally, True Wealth Design LLC increased its stake in Zoom Video Communications by 10,763.6% during the 3rd quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock worth $83,000 after buying an additional 1,184 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a research report on Friday, November 22nd. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. Benchmark upped their target price on shares of Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Friday, January 10th. Finally, Stifel Nicolaus boosted their price target on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. Sixteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and an average target price of $89.10.

Zoom Video Communications Stock Performance

NASDAQ:ZM opened at $80.01 on Friday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The company has a 50 day moving average price of $82.56 and a 200 day moving average price of $72.15. The stock has a market capitalization of $24.52 billion, a P/E ratio of 26.67, a PEG ratio of 4.94 and a beta of -0.01.

Insiders Place Their Bets

In related news, CAO Shane Crehan sold 1,551 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 $131,741.94. Following the sale, the chief accounting officer now directly owns 3,251 shares of the company’s stock, valued at $276,139.94. This represents a 32.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 489,981 shares of company stock worth $38,712,948 over the last ninety days. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications 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.