Allegiance Financial Group Advisory Services LLC Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Allegiance Financial Group Advisory Services LLC purchased a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,931 shares of the company’s stock, valued at approximately $239,000.

A number of other large investors have also recently modified their holdings of the business. FMR LLC lifted its position in Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after buying an additional 2,395,396 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in Zoom Video Communications in the 3rd quarter worth approximately $62,038,000. Assenagon Asset Management S.A. lifted its position in Zoom Video Communications by 126.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock worth $102,119,000 after buying an additional 699,625 shares during the last quarter. Nordea Investment Management AB lifted its position in Zoom Video Communications by 202.8% in the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock worth $64,054,000 after buying an additional 521,778 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its position in Zoom Video Communications by 48.1% in the 3rd quarter. Retirement Systems of Alabama now owns 903,797 shares of the company’s stock worth $63,031,000 after buying an additional 293,375 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Down 0.1 %

Shares of ZM opened at $74.15 on Thursday. The business has a 50-day simple moving average of $82.76 and a two-hundred day simple moving average of $76.66. The stock has a market cap of $22.73 billion and a price-to-earnings ratio of 24.72. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80.

Insiders Place Their Bets

In other Zoom Video Communications news, COO Aparna Bawa sold 9,317 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the completion of the sale, the chief operating officer now owns 14,053 shares in the company, valued at $1,105,830.57. This represents a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 83,332 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The disclosure for this sale can be found here. Insiders sold a total of 382,242 shares of company stock worth $31,230,938 over the last quarter. 10.78% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ZM. Mizuho boosted their target price on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Barclays lowered their price objective on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday. Benchmark reiterated a “buy” rating and issued a $97.00 price objective on shares of Zoom Video Communications in a research report on Tuesday. Finally, JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Sixteen research 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $89.57.

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.