Versant Capital Management Inc Has $123,000 Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Versant Capital Management Inc lifted its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 53.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,509 shares of the company’s stock after buying an additional 523 shares during the period. Versant Capital Management Inc’s holdings in Zoom Video Communications were worth $123,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. raised its position in Zoom Video Communications by 96.7% during the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after acquiring an additional 2,579,720 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after purchasing an additional 2,520,987 shares during the period. FMR LLC lifted its stake in Zoom Video Communications by 23.8% in 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. Acadian Asset Management LLC grew its holdings in Zoom Video Communications by 60.9% during the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after purchasing an additional 1,855,679 shares during the period. Finally, Eagle Asset Management Inc. acquired a new position in Zoom Video Communications during the third quarter worth approximately $62,038,000. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Trading Up 1.4 %

NASDAQ ZM opened at $82.70 on Friday. The firm’s 50 day simple moving average is $82.20 and its 200 day simple moving average is $69.94. The firm has a market capitalization of $25.35 billion, a price-to-earnings ratio of 27.57, a P/E/G ratio of 5.29 and a beta of -0.03. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ZM. Bank of America raised their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Scotiabank raised shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $70.00 to $115.00 in a research report on Tuesday, November 26th. Benchmark raised their target price on shares of Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Sanford C. Bernstein upped their price target on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research note on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $87.10.

Insiders Place Their Bets

In related news, insider Velchamy Sankarlingam sold 3,618 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the completion of the transaction, the insider now owns 107,826 shares of the company’s stock, valued at $9,158,740.44. This represents a 3.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Shane Crehan sold 2,478 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $69.09, for a total transaction of $171,205.02. Following the sale, the chief accounting officer now directly owns 2,383 shares in the company, valued at approximately $164,641.47. The trade was a 50.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 419,612 shares of company stock worth $31,763,516 over the last three months. Insiders own 10.78% of the company’s stock.

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.