Capital Wealth Alliance LLC Invests $502,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Capital Wealth Alliance LLC purchased a new stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,147 shares of the company’s stock, valued at approximately $502,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its position in Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after purchasing an additional 2,395,396 shares during the last quarter. State Street Corp boosted its holdings in shares of Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after buying an additional 134,559 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Zoom Video Communications by 4.4% during the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock valued at $382,188,000 after purchasing an additional 233,241 shares during the period. Geode Capital Management LLC grew its holdings in Zoom Video Communications by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock valued at $320,177,000 after buying an additional 184,518 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Zoom Video Communications by 9.8% in the third quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company’s stock worth $101,032,000 after buying an additional 128,800 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Trading Up 1.1 %

Shares of NASDAQ:ZM opened at $87.10 on Tuesday. 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 capitalization of $26.70 billion and a P/E ratio of 29.03. The firm’s 50 day moving average is $83.18 and its two-hundred day moving average is $74.55.

Analyst Ratings Changes

ZM has been the topic of several analyst reports. Scotiabank raised Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Jefferies Financial Group upgraded shares of Zoom Video Communications from a “hold” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. The Goldman Sachs Group raised their target price on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Sanford C. Bernstein boosted their price objective on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research report on Tuesday, November 26th. Sixteen investment 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 stock. According to data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $89.10.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,333 shares of Zoom Video Communications stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total transaction of $6,958,305.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jonathan Chadwick sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the transaction, the director now directly owns 1,514 shares in the company, valued at $121,619.62. The trade was a 94.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 382,242 shares of company stock valued at $31,230,938. 10.78% of the stock is owned by corporate insiders.

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.