Clear Harbor Asset Management LLC Purchases 1,340 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Clear Harbor Asset Management LLC increased its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 31.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,615 shares of the company’s stock after buying an additional 1,340 shares during the period. Clear Harbor Asset Management LLC’s holdings in Zoom Video Communications were worth $458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in shares of Zoom Video Communications during the 3rd quarter worth approximately $37,000. Allworth Financial LP grew its holdings in Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the period. Venturi Wealth Management LLC increased its stake in Zoom Video Communications by 56.0% in 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 in the last quarter. GAMMA Investing LLC raised its holdings in shares of Zoom Video Communications by 27.1% during the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock valued at $63,000 after purchasing an additional 164 shares during the period. Finally, True Wealth Design LLC boosted its position in shares of Zoom Video Communications by 10,763.6% during the 3rd quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock worth $83,000 after purchasing an additional 1,184 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, Director Jonathan Chadwick sold 25,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now directly owns 1,514 shares of the company’s stock, valued at $121,619.62. This trade represents a 94.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Shane Crehan sold 1,551 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the transaction, the chief accounting officer now directly owns 3,251 shares in the company, valued at $276,139.94. This represents a 32.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 489,981 shares of company stock worth $38,712,948. 10.78% of the stock is owned by company insiders.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $78.54 on Wednesday. The company has a market capitalization of $24.07 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 4.91 and a beta of -0.01. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The business has a fifty day moving average price of $82.83 and a two-hundred day moving average price of $71.96.

Wall Street Analysts Forecast Growth

ZM has been the topic of a number of research reports. Hsbc Global Res raised Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. 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 report on Tuesday, November 26th. Cantor Fitzgerald initiated coverage on Zoom Video Communications in a report on Friday, January 17th. They issued a “neutral” rating and a $87.00 target price on the stock. The Goldman Sachs Group boosted their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $89.10.

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.