Prairie Wealth Advisors Inc. Has $297,000 Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Prairie Wealth Advisors Inc. trimmed its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 4.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,634 shares of the company’s stock after selling 180 shares during the period. Prairie Wealth Advisors Inc.’s holdings in Zoom Video Communications were worth $297,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Avior Wealth Management LLC grew its stake 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 buying an additional 265 shares in the last quarter. Truvestments Capital LLC bought a new position in Zoom Video Communications during the third quarter valued at about $37,000. Geneos Wealth Management Inc. acquired a new stake in shares of Zoom Video Communications in the fourth quarter worth about $39,000. Allworth Financial LP boosted its stake in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after acquiring an additional 180 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Zoom Video Communications by 56.0% during 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 during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their target price for the company from $70.00 to $115.00 in a research note on Tuesday, November 26th. Cantor Fitzgerald assumed coverage on Zoom Video Communications in a report on Friday, January 17th. They set a “neutral” rating and a $87.00 price objective on the stock. Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Friday, January 10th. Finally, Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Sixteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and a consensus price target of $89.10.

Insider Transactions at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 83,332 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan Chadwick sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total value of $2,008,250.00. Following the transaction, the director now owns 1,514 shares in the company, valued at approximately $121,619.62. This trade represents a 94.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 382,242 shares of company stock worth $31,230,938 over the last 90 days. 10.78% of the stock is owned by insiders.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $86.69 on Friday. The firm has a 50 day simple moving average of $83.09 and a 200 day simple moving average of $74.05. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm has a market cap of $26.57 billion and a P/E ratio of 28.90.

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.