Whalen Wealth Management Inc. Invests $251,000 in Zoom Video Communications, Inc. (NASDAQ:ZM)

Whalen Wealth Management Inc. acquired a new stake in Zoom Video Communications, Inc. (NASDAQ:ZM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,074 shares of the company’s stock, valued at approximately $251,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ZM. Itau Unibanco Holding S.A. raised its stake in Zoom Video Communications by 1.9% during the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock worth $497,000 after acquiring an additional 131 shares during the period. MML Investors Services LLC grew its holdings in shares of Zoom Video Communications by 1.4% during the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after purchasing an additional 132 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after purchasing an additional 145 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after purchasing an additional 154 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Zoom Video Communications by 27.1% during the 4th 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. Institutional investors and hedge funds own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ZM. The Goldman Sachs Group raised 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. Mizuho raised their target price on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. UBS Group boosted their price target on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Hsbc Global Res raised Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Finally, Bank of America upped their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Sixteen equities research 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $89.10.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Shane Crehan sold 1,551 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $131,741.94. Following the sale, the chief accounting officer now directly owns 3,251 shares of the company’s stock, valued at $276,139.94. The trade was a 32.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 489,981 shares of company stock valued at $38,712,948. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Trading Up 0.9 %

NASDAQ ZM opened at $79.28 on Thursday. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The firm’s fifty day simple moving average is $82.56 and its 200-day simple moving average is $72.15. The company has a market capitalization of $24.30 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 4.94 and a beta of -0.01.

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.