Dakota Wealth Management Buys Shares of 10,408 Zoom Video Communications, Inc. (NASDAQ:ZM)

Dakota Wealth Management purchased a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the 4th quarter, HoldingsChannel reports. The firm purchased 10,408 shares of the company’s stock, valued at approximately $849,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Itau Unibanco Holding S.A. lifted its stake in shares of Zoom Video Communications by 1.9% in the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock worth $497,000 after buying an additional 131 shares during the last quarter. MML Investors Services LLC lifted its position in Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after acquiring an additional 132 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Zoom Video Communications by 1.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock valued at $556,000 after acquiring an additional 145 shares during the period. MetLife Investment Management LLC grew its position in shares of Zoom Video Communications by 3.4% in the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after purchasing an additional 154 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Zoom Video Communications by 27.1% in the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after purchasing an additional 164 shares during the period. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Trading Up 0.2 %

NASDAQ ZM opened at $80.17 on Friday. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The company has a 50 day moving average of $82.51 and a 200-day moving average of $72.20. The firm has a market cap of $24.57 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 4.99 and a beta of -0.01.

Insider Activity at Zoom Video Communications

In other news, Director Jonathan Chadwick sold 12,500 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total transaction of $938,000.00. Following the sale, the director now directly owns 1,514 shares of the company’s stock, valued at $113,610.56. This represents a 89.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Velchamy Sankarlingam sold 3,618 shares of the business’s 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 $307,312.92. Following the completion of the transaction, the insider now owns 107,826 shares of the company’s stock, valued at $9,158,740.44. This trade represents a 3.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 489,981 shares of company stock valued at $38,712,948 in the last three months. Corporate insiders own 10.78% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. The Goldman Sachs Group raised their target price on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Hsbc Global Res raised shares of Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Stifel Nicolaus boosted 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. Finally, Sanford C. Bernstein increased their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research note on Tuesday, November 26th. Sixteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and a consensus price target of $89.10.

About Zoom Video Communications

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.