IHT Wealth Management LLC Has $235,000 Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

IHT Wealth Management LLC trimmed its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 49.8% in the third quarter, Holdings Channel reports. The institutional investor owned 3,369 shares of the company’s stock after selling 3,347 shares during the period. IHT Wealth Management LLC’s holdings in Zoom Video Communications were worth $235,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Innealta Capital LLC bought a new position in Zoom Video Communications during the 2nd quarter worth $33,000. Truvestments Capital LLC acquired a new stake in shares of Zoom Video Communications during the 3rd quarter worth $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Zoom Video Communications during the 2nd quarter worth $41,000. Allworth Financial LP increased its position 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 worth $41,000 after purchasing an additional 180 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after purchasing an additional 274 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $83.83 on Wednesday. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The firm has a market cap of $25.69 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 5.44 and a beta of -0.03. The firm’s fifty day moving average is $77.02 and its 200-day moving average is $67.19.

Insider Buying and Selling

In other news, CAO Shane Crehan sold 2,478 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $69.09, for a total value of $171,205.02. Following the transaction, the chief accounting officer now owns 2,383 shares in the company, valued at approximately $164,641.47. The trade was a 50.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kelly Steckelberg sold 8,901 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $66.47, for a total transaction of $591,649.47. The disclosure for this sale can be found here. Insiders sold a total of 432,245 shares of company stock valued at $32,519,509 in the last three months. Insiders own 10.78% of the company’s stock.

Wall Street Analyst Weigh In

ZM has been the topic of several recent analyst reports. Wedbush began coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 target price on the stock. Mizuho lifted their price objective on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Benchmark boosted their price objective on shares of Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Scotiabank raised Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Finally, JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and an average price target of $85.19.

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.