Empowered Funds LLC Has $9.36 Million Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Empowered Funds LLC decreased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,716 shares of the company’s stock after selling 1,502 shares during the period. Empowered Funds LLC’s holdings in Zoom Video Communications were worth $9,362,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ZM. Global X Japan Co. Ltd. raised 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 worth $28,000 after acquiring an additional 190 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Zoom Video Communications by 10.4% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,829 shares of the company’s stock worth $2,190,000 after purchasing an additional 2,523 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Zoom Video Communications during the 4th quarter worth about $831,000. Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of Zoom Video Communications by 6.0% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 12,574 shares of the company’s stock valued at $1,026,000 after buying an additional 710 shares during the last quarter. Finally, Adero Partners LLC lifted its holdings in shares of Zoom Video Communications by 2.4% during the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock valued at $450,000 after buying an additional 129 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Performance

Shares of ZM opened at $86.12 on Monday. The company has a market cap of $26.39 billion and a price-to-earnings ratio of 28.71. The stock has a fifty day moving average price of $83.18 and a two-hundred day moving average price of $74.43. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ZM. Mizuho raised their price objective on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. UBS Group raised their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Morgan Stanley upped their price objective on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Finally, Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. Sixteen 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $89.10.

Insider Buying and Selling

In related news, insider Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $307,312.92. Following the completion of the sale, the insider now directly owns 107,826 shares in the company, valued at $9,158,740.44. This trade represents a 3.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 83,333 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were 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. Insiders have sold a total of 382,242 shares of company stock worth $31,230,938 in the last 90 days. Corporate 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.