Savant Capital LLC Increases Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Savant Capital LLC lifted its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 5.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 34,400 shares of the company’s stock after buying an additional 1,773 shares during the quarter. Savant Capital LLC’s holdings in Zoom Video Communications were worth $2,807,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global X Japan Co. Ltd. boosted its stake in 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 buying 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. Geneos Wealth Management Inc. purchased a new stake in shares of Zoom Video Communications during the 4th quarter worth approximately $39,000. Truvestments Capital LLC bought a new position in shares of Zoom Video Communications during the 3rd quarter valued at approximately $37,000. Finally, Allworth Financial LP grew its holdings in shares of Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Insider Buying and Selling

In other news, CAO Shane Crehan sold 1,551 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the sale, the chief accounting officer now owns 3,251 shares in the company, valued at approximately $276,139.94. The trade was a 32.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 83,333 shares of the stock in a transaction that occurred on 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 valued at $31,230,938 over the last quarter. 10.78% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ZM shares. UBS Group upped their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their target price for the company from $70.00 to $115.00 in a research report on Tuesday, November 26th. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, January 10th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Sixteen investment 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 stock. Based on data from MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $89.10.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $83.05 on Thursday. The company’s 50-day simple moving average is $83.29 and its two-hundred day simple moving average is $74.91. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The company has a market capitalization of $25.45 billion and a P/E ratio of 27.68.

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.