2,683 Shares in Zoom Video Communications, Inc. (NASDAQ:ZM) Purchased by Townsquare Capital LLC

Townsquare Capital LLC bought a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,683 shares of the company’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Adero Partners LLC grew its stake in shares of Zoom Video Communications by 2.4% in the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock worth $450,000 after buying an additional 129 shares during the last quarter. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 164 shares in the last quarter. Principal Securities Inc. grew its stake in shares of Zoom Video Communications by 26.9% in the fourth quarter. Principal Securities Inc. now owns 783 shares of the company’s stock worth $64,000 after acquiring an additional 166 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Zoom Video Communications by 4.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company’s stock valued at $330,000 after acquiring an additional 168 shares in the last quarter. Finally, Global X Japan Co. Ltd. increased its holdings in shares of 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. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $71.74 on Wednesday. The business’s fifty day moving average is $74.82 and its 200 day moving average is $78.57. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The company has a market capitalization of $21.90 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 11,839 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total value of $851,342.49. Following the completion of the sale, the insider now owns 125,529 shares in the company, valued at approximately $9,026,790.39. This represents a 8.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were 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. Insiders have sold 242,897 shares of company stock valued at $18,941,111 over the last quarter. 10.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Benchmark reissued a “buy” rating and set a $97.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Cantor Fitzgerald reiterated a “neutral” rating and set a $87.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Scotiabank lowered their price objective on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Monday, March 17th. Mizuho decreased their price target on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Finally, UBS Group dropped their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $86.14.

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.