Venturi Wealth Management LLC Raises Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Venturi Wealth Management LLC grew its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 227.5% during the 4th quarter, Holdings Channel reports. The fund owned 2,499 shares of the company’s stock after buying an additional 1,736 shares during the quarter. Venturi Wealth Management LLC’s holdings in Zoom Video Communications were worth $204,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC boosted its holdings in Zoom Video Communications by 23.8% during the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after buying an additional 2,395,396 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in Zoom Video Communications during the third quarter worth about $62,038,000. Assenagon Asset Management S.A. boosted its holdings in Zoom Video Communications by 126.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock worth $102,119,000 after buying an additional 699,625 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Zoom Video Communications by 202.8% during the fourth quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock worth $64,054,000 after buying an additional 521,778 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Zoom Video Communications by 6,614.6% during the third quarter. International Assets Investment Management LLC now owns 499,966 shares of the company’s stock worth $34,868,000 after buying an additional 492,520 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on ZM shares. Cantor Fitzgerald started coverage on shares of Zoom Video Communications in a report on Friday, January 17th. They set a “neutral” rating and a $87.00 price objective on the stock. Benchmark upped their price target on shares of Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Citigroup reduced their price target on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a report on Friday, November 22nd. Finally, Piper Sandler upped their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Sixteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus target price of $89.48.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $82.50 on Friday. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The company has a 50 day moving average price of $83.21 and a 200 day moving average price of $75.90. The firm has a market capitalization of $25.29 billion and a price-to-earnings ratio of 27.50.

Insider Buying and Selling

In other news, COO Aparna Bawa sold 9,317 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $733,154.73. Following the completion of the sale, the chief operating officer now owns 14,053 shares of the company’s stock, valued at $1,105,830.57. This represents a 39.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 83,333 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total transaction of $6,958,305.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 382,242 shares of company stock valued at $31,230,938. Insiders own 10.78% of the company’s stock.

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.