Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC grew its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 449.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 63,618 shares of the company’s stock after buying an additional 52,039 shares during the quarter. HighTower Advisors LLC’s holdings in Zoom Video Communications were worth $4,429,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Comerica Bank raised its holdings in shares of Zoom Video Communications by 15.6% during the first quarter. Comerica Bank now owns 4,966 shares of the company’s stock valued at $325,000 after acquiring an additional 670 shares during the last quarter. Cetera Advisors LLC lifted its holdings in Zoom Video Communications by 52.1% in the 1st quarter. Cetera Advisors LLC now owns 6,307 shares of the company’s stock valued at $412,000 after purchasing an additional 2,160 shares in the last quarter. CWM LLC grew its holdings in shares of Zoom Video Communications by 6.0% during the second quarter. CWM LLC now owns 8,304 shares of the company’s stock worth $492,000 after buying an additional 471 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Zoom Video Communications by 2.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,311 shares of the company’s stock valued at $669,000 after buying an additional 273 shares during the last quarter. Finally, Swedbank AB lifted its stake in shares of Zoom Video Communications by 22.6% in the second quarter. Swedbank AB now owns 39,378 shares of the company’s stock worth $2,331,000 after buying an additional 7,252 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 10,338 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $69.51, for a total value of $718,594.38. Following the transaction, the insider now owns 104,414 shares of the company’s stock, valued at approximately $7,257,817.14. The trade was a 9.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kelly Steckelberg sold 8,901 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $66.47, for a total value of $591,649.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 432,245 shares of company stock worth $32,519,509. Insiders own 10.78% of the company’s stock.

Analyst Ratings Changes

ZM has been the topic of several recent research reports. Morgan Stanley boosted their target price on Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Evercore ISI raised Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $70.00 to $115.00 in a research note on Tuesday, November 26th. Sanford C. Bernstein boosted their price target on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research report on Tuesday, November 26th. Hsbc Global Res upgraded shares of Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Finally, Benchmark boosted their target price on shares of Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $85.19.

Zoom Video Communications Stock Down 2.0 %

Shares of NASDAQ ZM opened at $83.83 on Wednesday. The stock has a market cap of $25.69 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 5.44 and a beta of -0.03. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The business has a 50-day moving average price of $77.02 and a 200 day moving average price of $67.19.

Zoom Video Communications Company 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.