Xponance Inc. Has $2.25 Million Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Xponance Inc. raised its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 18.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,577 shares of the company’s stock after buying an additional 4,372 shares during the period. Xponance Inc.’s holdings in Zoom Video Communications were worth $2,251,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Morgan Stanley upped their target price on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Scotiabank lowered their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Monday, March 17th. Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday. Finally, Piper Sandler boosted their price objective on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Fifteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $89.33.

Insider Activity

In related news, CEO Eric S. Yuan sold 118,036 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $79.03, for a total value of $9,328,385.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Shane Crehan sold 1,412 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $111,110.28. Following the transaction, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at $425,240.76. This represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 369,271 shares of company stock worth $29,496,892. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Down 0.1 %

NASDAQ ZM opened at $75.97 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 $23.19 billion, a P/E ratio of 25.32, a PEG ratio of 5.48 and a beta of 0.26. The company’s 50-day simple moving average is $79.98 and its 200 day simple moving average is $77.82.

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.