FORA Capital LLC Has $3.34 Million Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

FORA Capital LLC increased its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 120.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,947 shares of the company’s stock after purchasing an additional 22,393 shares during the quarter. FORA Capital LLC’s holdings in Zoom Video Communications were worth $3,342,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. grew its stake in Zoom Video Communications by 53.6% in the 3rd quarter. Franklin Resources Inc. now owns 331,782 shares of the company’s stock valued at $22,537,000 after buying an additional 115,837 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Zoom Video Communications by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after purchasing an additional 164 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Zoom Video Communications by 0.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 74,890 shares of the company’s stock valued at $6,112,000 after purchasing an additional 398 shares during the period. Wedmont Private Capital increased its position in Zoom Video Communications by 12.5% in the 4th quarter. Wedmont Private Capital now owns 3,350 shares of the company’s stock worth $266,000 after buying an additional 371 shares during the period. Finally, Wynn Capital LLC lifted its holdings in shares of Zoom Video Communications by 2.0% during the fourth quarter. Wynn Capital LLC now owns 10,034 shares of the company’s stock worth $819,000 after buying an additional 200 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZM has been the topic of several research reports. Stifel Nicolaus dropped their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Benchmark reissued a “buy” rating and set a $97.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. UBS Group reduced their target price on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Citigroup decreased their target price on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a report on Wednesday, March 19th. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and a consensus target price of $85.90.

Zoom Video Communications Trading Up 2.1 %

Shares of NASDAQ:ZM opened at $80.27 on Friday. The stock has a market capitalization of $24.50 billion, a PE ratio of 26.76, a PEG ratio of 5.48 and a beta of 0.79. The firm has a 50 day moving average of $74.21 and a 200-day moving average of $79.13. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80.

Insider Buying and Selling

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $78.82, for a total value of $195,079.50. Following the transaction, the director now directly owns 157,824 shares of the company’s stock, valued at approximately $12,439,687.68. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 11,839 shares of Zoom Video Communications stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the transaction, the insider now owns 125,529 shares of the company’s stock, valued at $9,026,790.39. This trade represents a 8.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,515 shares of company stock worth $12,132,994 in the last three months. 11.51% of the stock is owned by corporate insiders.

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.