Sanctuary Advisors LLC Buys 2,714 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Sanctuary Advisors LLC lifted its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 22.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,020 shares of the company’s stock after buying an additional 2,714 shares during the quarter. Sanctuary Advisors LLC’s holdings in Zoom Video Communications were worth $1,047,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Baker Avenue Asset Management LP lifted its holdings in Zoom Video Communications by 82.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after purchasing an additional 12,890 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Zoom Video Communications by 449.4% during the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after buying an additional 52,039 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Zoom Video Communications by 15.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after buying an additional 167,618 shares during the last quarter. National Pension Service boosted its holdings in shares of Zoom Video Communications by 30.1% during the 3rd quarter. National Pension Service now owns 655,227 shares of the company’s stock worth $45,696,000 after buying an additional 151,728 shares during the period. Finally, Eagle Asset Management Inc. acquired a new position in Zoom Video Communications in the 3rd quarter valued at about $62,038,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Aparna Bawa sold 10,871 shares of Zoom Video Communications stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $68.12, for a total transaction of $740,532.52. Following the sale, the chief operating officer now directly owns 12,498 shares of the company’s stock, valued at approximately $851,363.76. This trade represents a 46.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kelly Steckelberg sold 8,901 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $67.79, for a total value of $603,398.79. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 428,513 shares of company stock valued at $32,366,914. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Stock Up 1.8 %

Shares of ZM stock opened at $85.60 on Friday. The business has a fifty day simple moving average of $79.85 and a 200 day simple moving average of $68.59. The company has a market cap of $26.24 billion, a P/E ratio of 28.53, a P/E/G ratio of 5.29 and a beta of -0.03. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ZM. Mizuho raised their price objective on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Sanford C. Bernstein lifted their price target on Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a report on Tuesday, November 26th. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Rosenblatt Securities reissued a “buy” rating and set a $78.00 target price on shares of Zoom Video Communications in a report on Friday, November 22nd. Finally, UBS Group boosted their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average price target of $87.10.

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.