Yelin Lapidot Holdings Management Ltd. Acquires New Shares in Zoom Video Communications, Inc. (NASDAQ:ZM)

Yelin Lapidot Holdings Management Ltd. acquired a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,300 shares of the company’s stock, valued at approximately $1,085,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. lifted its position in Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after acquiring an additional 190 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 258 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Zoom Video Communications during the fourth quarter worth about $39,000. Finally, Truvestments Capital LLC bought a new position in shares of Zoom Video Communications during the third quarter worth about $37,000. 66.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Rosenblatt Securities restated a “buy” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday. Benchmark reaffirmed a “buy” rating and issued a $97.00 target price on shares of Zoom Video Communications in a research report on Tuesday. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group upgraded shares of Zoom Video Communications from a “hold” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. Fifteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $90.05.

Zoom Video Communications Stock Down 1.7 %

Zoom Video Communications stock opened at $72.88 on Friday. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The stock has a market cap of $22.34 billion and a P/E ratio of 24.29. The company’s 50-day moving average price is $82.54 and its two-hundred day moving average price is $76.63.

Insider Activity

In related news, CAO Shane Crehan sold 1,551 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $131,741.94. Following the sale, the chief accounting officer now owns 3,251 shares of the company’s stock, valued at $276,139.94. This represents a 32.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of the firm’s stock in a transaction on 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. Over the last quarter, insiders have sold 382,242 shares of company stock valued at $31,230,938. 10.78% of the stock is owned by insiders.

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.