Grant Private Wealth Management Inc Takes Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Grant Private Wealth Management Inc bought a new position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,450 shares of the company’s stock, valued at approximately $934,000. Zoom Video Communications comprises about 1.0% of Grant Private Wealth Management Inc’s portfolio, making the stock its 24th largest holding.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ZM shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $87.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Scotiabank reduced their price target 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. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Rosenblatt Securities reissued a “buy” rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Wednesday, March 19th. Finally, Morgan Stanley upped their price target on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $89.33.

Insider Buying and Selling at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,412 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $111,110.28. Following the completion of the sale, the chief accounting officer now directly owns 5,404 shares of the company’s stock, valued at $425,240.76. The trade was a 20.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 33,751 shares of Zoom Video Communications stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total value of $2,655,866.19. Following the completion of the transaction, the chief executive officer now owns 34,703 shares in the company, valued at $2,730,779.07. The trade was a 49.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 371,746 shares of company stock worth $29,689,595. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of ZM opened at $75.04 on Thursday. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The company’s 50 day simple moving average is $79.52 and its 200 day simple moving average is $78.38. The company has a market capitalization of $22.90 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 5.48 and a beta of 0.26.

About Zoom Video Communications

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.