FORA Capital LLC Purchases 22,393 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

FORA Capital LLC increased its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 120.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 40,947 shares of the company’s stock after buying an additional 22,393 shares during the quarter. FORA Capital LLC’s holdings in Zoom Video Communications were worth $3,342,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ZM. Global X Japan Co. Ltd. increased its position in shares of Zoom Video Communications by 127.5% during 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. Avior Wealth Management LLC increased its holdings in shares of 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 acquiring an additional 265 shares during the period. Parkside Financial Bank & Trust lifted 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 valued at $29,000 after purchasing an additional 258 shares during the last quarter. Colonial Trust Co SC purchased a new stake in shares of Zoom Video Communications during the fourth quarter valued at $32,000. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Zoom Video Communications during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on ZM shares. Wells Fargo & Company dropped their price target on 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. Mizuho decreased their target price on shares of Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Citigroup decreased their price objective 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, February 18th. Barclays cut their target price on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen equities research 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $85.90.

Zoom Video Communications Stock Up 2.1 %

NASDAQ:ZM opened at $80.27 on Friday. The company has a market capitalization of $24.50 billion, a PE ratio of 26.76, a P/E/G ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The stock’s 50 day moving average price is $74.21 and its 200 day moving average price is $79.13.

Insider Activity

In other news, Director Santiago Subotovsky sold 2,475 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $78.82, for a total transaction of $195,079.50. Following the completion of the sale, the director now directly owns 157,824 shares in the company, valued at $12,439,687.68. This represents a 1.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Eric S. Yuan sold 75,531 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,515 shares of company stock valued at $12,132,994. Insiders own 11.51% 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.