Arkadios Wealth Advisors Purchases 10,417 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Arkadios Wealth Advisors raised its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 35.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,628 shares of the company’s stock after purchasing an additional 10,417 shares during the period. Arkadios Wealth Advisors’ holdings in Zoom Video Communications were worth $3,234,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ZM. Choreo LLC bought a new stake in Zoom Video Communications in the 2nd quarter valued at $200,000. American Century Companies Inc. boosted its holdings in Zoom Video Communications by 8.8% in the 2nd quarter. American Century Companies Inc. now owns 69,491 shares of the company’s stock valued at $4,113,000 after purchasing an additional 5,598 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Zoom Video Communications by 24.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company’s stock valued at $80,827,000 after purchasing an additional 264,217 shares during the period. Edgestream Partners L.P. acquired a new position in shares of Zoom Video Communications in the 2nd quarter valued at $1,050,000. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Zoom Video Communications by 40.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,213 shares of the company’s stock valued at $591,000 after buying an additional 2,955 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ZM. UBS Group increased their price objective 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. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Sanford C. Bernstein increased their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 26th. Cantor Fitzgerald started coverage on shares of Zoom Video Communications in a research report on Friday. They set a “neutral” rating and a $87.00 target price for the company. Finally, Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, sixteen have assigned 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, the company currently has an average rating of “Hold” and a consensus target price of $87.77.

Insider Activity at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 3,618 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $307,312.92. Following the transaction, the insider now directly owns 107,826 shares of the company’s stock, valued at approximately $9,158,740.44. The trade was a 3.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Shane Crehan sold 1,551 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the sale, the chief accounting officer now directly owns 3,251 shares of the company’s stock, valued at $276,139.94. This represents a 32.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 525,703 shares of company stock valued at $41,265,285. 10.78% of the stock is owned by corporate insiders.

Zoom Video Communications Stock Down 1.7 %

ZM stock opened at $78.07 on Friday. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market cap of $23.93 billion, a price-to-earnings ratio of 26.02, a P/E/G ratio of 4.97 and a beta of -0.01. The business has a 50 day moving average price of $83.05 and a two-hundred day moving average price of $71.50.

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.