Claro Advisors LLC Sells 420 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Claro Advisors LLC lessened its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,534 shares of the company’s stock after selling 420 shares during the period. Claro Advisors LLC’s holdings in Zoom Video Communications were worth $288,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ZM. Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications in the third quarter worth $37,000. Allworth Financial LP boosted its stake in Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Venturi Wealth Management LLC grew its position in Zoom Video Communications by 56.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after purchasing an additional 274 shares during the last quarter. GAMMA Investing LLC increased its stake in Zoom Video Communications by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock valued at $63,000 after purchasing an additional 164 shares in the last quarter. Finally, True Wealth Design LLC raised its holdings in Zoom Video Communications by 10,763.6% in the third 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 during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Up 0.5 %

Shares of ZM opened at $79.20 on Wednesday. The business has a 50-day simple moving average of $83.05 and a two-hundred day simple moving average of $71.39. The stock has a market cap of $24.27 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 5.29 and a beta of -0.01. 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 related news, COO Aparna Bawa sold 9,317 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the sale, the chief operating officer now owns 14,053 shares in the company, valued at approximately $1,105,830.57. This trade represents a 39.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Shane Crehan sold 1,551 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value 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 position. The disclosure for this sale can be found here. Insiders sold a total of 370,592 shares of company stock worth $28,972,914 over the last quarter. 10.78% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ZM shares. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their price target for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Morgan Stanley upped their price target on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $87.81.

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.