Empowered Funds LLC Has $9.36 Million Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Empowered Funds LLC lessened its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 114,716 shares of the company’s stock after selling 1,502 shares during the quarter. Empowered Funds LLC’s holdings in Zoom Video Communications were worth $9,362,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZM. Global X Japan Co. Ltd. increased its holdings in shares of Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after acquiring an additional 190 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Zoom Video Communications by 10.4% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,829 shares of the company’s stock worth $2,190,000 after purchasing an additional 2,523 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in Zoom Video Communications during the 4th quarter worth approximately $831,000. Klein Pavlis & Peasley Financial Inc. raised its holdings in Zoom Video Communications by 6.0% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 12,574 shares of the company’s stock worth $1,026,000 after buying an additional 710 shares during the period. Finally, Adero Partners LLC raised its holdings in Zoom Video Communications by 2.4% during the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock worth $450,000 after buying an additional 129 shares during the period. 66.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ZM has been the topic of a number of research analyst reports. Stifel Nicolaus raised their price objective on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. The Goldman Sachs Group lifted their price target on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Wedbush initiated coverage on Zoom Video Communications in a research report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price objective for the company. Hsbc Global Res raised Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Finally, Barclays boosted their target price on Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Sixteen 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 data from MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and an average price target of $89.10.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,618 shares of the firm’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 sale, the insider now directly owns 107,826 shares in the company, valued at $9,158,740.44. This trade represents a 3.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of the company’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 value of $2,008,250.00. Following the completion of the transaction, the director now directly owns 1,514 shares in the company, valued at $121,619.62. The trade was a 94.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 382,242 shares of company stock worth $31,230,938. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Down 0.7 %

ZM opened at $86.12 on Monday. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The business has a 50 day moving average of $83.18 and a 200-day moving average of $74.43. The stock has a market cap of $26.39 billion and a price-to-earnings ratio of 28.71.

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.