Mission Creek Capital Partners Inc. Invests $812,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Mission Creek Capital Partners Inc. purchased a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,955 shares of the company’s stock, valued at approximately $812,000.

Several other large investors have also bought and sold shares of ZM. Tri Ri Asset Management Corp bought a new position in Zoom Video Communications during the third quarter valued at about $2,653,000. Franklin Resources Inc. boosted its stake in Zoom Video Communications by 53.6% during the third quarter. Franklin Resources Inc. now owns 331,782 shares of the company’s stock valued at $22,537,000 after buying an additional 115,837 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Zoom Video Communications by 48.1% during the third quarter. Retirement Systems of Alabama now owns 903,797 shares of the company’s stock valued at $63,031,000 after buying an additional 293,375 shares in the last quarter. Versant Capital Management Inc boosted its stake in Zoom Video Communications by 53.0% during the fourth quarter. Versant Capital Management Inc now owns 1,509 shares of the company’s stock valued at $123,000 after buying an additional 523 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Zoom Video Communications by 27.1% during the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock valued at $63,000 after purchasing an additional 164 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ZM has been the subject of several analyst reports. Benchmark reaffirmed a “buy” rating and set a $97.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a report on Wednesday, March 19th. Morgan Stanley reduced their target price on Zoom Video Communications from $96.00 to $73.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Scotiabank reduced their target price on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating for the company in a report on Monday, March 17th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $85.90.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 83,332 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 11,839 shares of the business’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49. Following the completion of the sale, the insider now owns 125,529 shares of the company’s stock, valued at $9,026,790.39. The trade was a 8.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 242,897 shares of company stock valued at $18,941,111 over the last 90 days. 10.78% of the stock is currently owned by company insiders.

Zoom Video Communications Price Performance

ZM opened at $76.03 on Monday. The company has a market capitalization of $23.21 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. The business has a 50-day moving average of $74.20 and a 200-day moving average of $78.75. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

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.