EverSource Wealth Advisors LLC Buys 281 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

EverSource Wealth Advisors LLC grew its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 17.3% in the 4th quarter, HoldingsChannel reports. The fund owned 1,908 shares of the company’s stock after purchasing an additional 281 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Zoom Video Communications were worth $156,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Adero Partners LLC grew its stake in shares of Zoom Video Communications by 2.4% in the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock valued at $450,000 after acquiring an additional 129 shares in the last quarter. Itau Unibanco Holding S.A. grew its position in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock worth $497,000 after purchasing an additional 131 shares in the last quarter. MML Investors Services LLC grew its position in shares of Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after purchasing an additional 132 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Zoom Video Communications by 3.4% during the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after purchasing an additional 154 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Zoom Video Communications by 27.1% in the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock valued at $63,000 after buying an additional 164 shares in the last quarter. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

Zoom Video Communications stock opened at $75.16 on Tuesday. The business has a 50 day moving average of $80.30 and a 200-day moving average of $77.75. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The company has a market capitalization of $22.94 billion, a P/E ratio of 25.05, a P/E/G ratio of 5.48 and a beta of 0.26.

Insider Buying and Selling at Zoom Video Communications

In related news, COO Aparna Bawa sold 9,317 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the sale, the chief operating officer now directly owns 14,053 shares in the company, valued at $1,105,830.57. This represents a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 33,751 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total transaction of $2,655,866.19. Following the sale, the chief executive officer now directly owns 34,703 shares of the company’s stock, valued at $2,730,779.07. This represents a 49.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 369,271 shares of company stock worth $29,496,892. 10.78% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ZM has been the topic of a number of analyst reports. Mizuho increased their price target on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Citigroup dropped their price target on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. The Goldman Sachs Group increased their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, Scotiabank dropped their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating for the company in a research report on Monday. Fifteen investment 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $89.33.

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.