Colonial Trust Co SC Buys New Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Colonial Trust Co SC purchased a new position in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 387 shares of the company’s stock, valued at approximately $32,000.

A number of other institutional investors have also added to or reduced their stakes in ZM. Global X Japan Co. Ltd. increased its holdings in shares of Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after purchasing an additional 190 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 258 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Zoom Video Communications in the fourth quarter valued at $39,000. Finally, MRP Capital Investments LLC increased its position in Zoom Video Communications by 500.0% in the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock worth $49,000 after purchasing an additional 500 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $77.86, for a total transaction of $192,703.50. Following the completion of the sale, the director now directly owns 169,452 shares of the company’s stock, valued at $13,193,532.72. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 164,515 shares of company stock valued at $12,132,994 over the last quarter. 11.51% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on ZM. Wells Fargo & Company lowered their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Stifel Nicolaus lowered their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. Rosenblatt Securities reissued a “buy” rating and set a $90.00 price objective on shares of Zoom Video Communications in a research note on Thursday. Scotiabank lowered their price objective on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating for the company in a research note on Monday, March 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Fifteen 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $85.90.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $81.31 on Friday. The firm’s 50 day simple moving average is $74.34 and its 200-day simple moving average is $79.24. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The firm has a market cap of $24.82 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79.

Zoom Video Communications 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.