Simon Quick Advisors LLC Acquires Stake in Zoom Video Communications

In the fourth quarter, Simon Quick Advisors LLC made a new investment in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report). According to the company's latest 13F filing with the SEC, the firm purchased 3,917 shares of Zoom's stock, which is valued at around $320,000.

Other Institutional Movements

A number of other large investors have also modified their stakes in Zoom Video Communications. For instance, Truvestments Capital LLC acquired a new position in the company during the third quarter, valued at approximately $37,000. Additionally, Allworth Financial LP increased its holdings by 43.8% in the same quarter and now owns 591 shares worth $41,000, following the purchase of an additional 180 shares. Venturi Wealth Management LLC raised its stake by 56.0%, owning 763 shares worth $53,000 after buying an extra 274 shares. GAMMA Investing LLC also boosted its position by 27.1% in the fourth quarter, bringing its total to 770 shares worth $63,000 after acquiring another 164 shares. True Wealth Design LLC saw a significant increase of 10,763.6% in its holdings during the third quarter, now owning 1,195 shares valued at $83,000 after adding 1,184 shares during the period. Overall, institutional investors hold 66.54% of Zoom’s stock.

Insider Transactions

In more news about the company, Director Jonathan Chadwick sold 25,000 shares of Zoom on January 15th at an average price of $80.33, amounting to $2,008,250. This sale represented a significant decrease of 94.29% in his ownership. After this transaction, he holds 1,514 shares valued at approximately $121,619.62. Additionally, COO Aparna Bawa sold 12,075 shares on January 14th at an average price of $79.15, totaling $955,736.25. Bawa’s ownership was reduced by 85.92% after this transaction, leaving her with 1,978 shares worth $156,558.70. In the last 90 days, a total of 489,981 shares have been sold by insiders, valued at $38,712,948. Currently, insiders own about 10.78% of the company’s stock.

Current Stock Performance

As of Friday, Zoom Video Communications' stock opened at $80.01. The company's stock has been fluctuating within a 52-week range, with a low of $55.06 and a high of $92.80. The 50-day moving average stands at $82.56, while the 200-day moving average is at $72.15. With a market capitalization of $24.52 billion, the stock has a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 4.94, and a beta of -0.01.

Analyst Insights

Recent reports from various brokerages have adjusted their price targets for Zoom Video Communications. For example, Stifel Nicolaus increased their price objective from $70.00 to $90.00 and rated the stock as a "hold." Morgan Stanley updated their target from $86.00 to $96.00, maintaining an "equal weight" rating. The Royal Bank of Canada reiterated an "outperform" rating, giving a price target of $95.00. Wells Fargo & Company raised its rating from "underweight" to "equal weight", adjusting their price target from $70.00 to $85.00. According to MarketBeat, there are 16 research analysts with a hold rating, eight with a buy rating, and one giving a strong buy rating for the stock. The average rating is currently "Hold" with a consensus target price of $89.10.

Company Overview

Zoom Video Communications, Inc. offers a unified communications platform worldwide, providing services such as Zoom Meetings, Zoom Phone, and Zoom Chat. Their products support HD video, voice, messaging, and content sharing across multiple devices.

investment, Zoom, stock