Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC lowered its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 32.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 12,800 shares of the company's stock after selling 6,100 shares during the quarter. ArrowMark Colorado Holdings LLC's holdings in Zoom Video Communications were worth $893,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company's stock valued at $867,906,000 after acquiring an additional 2,395,396 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company's stock valued at $337,233,000 after purchasing an additional 2,520,987 shares during the last quarter. Pacer Advisors Inc. grew its position in Zoom Video Communications by 4.4% during the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company's stock worth $382,188,000 after purchasing an additional 233,241 shares during the period. Acadian Asset Management LLC raised its stake in shares of Zoom Video Communications by 60.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company's stock valued at $290,153,000 after buying an additional 1,855,679 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Zoom Video Communications by 24.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company's stock valued at $80,827,000 after buying an additional 264,217 shares during the period. Institutional investors and hedge funds own 66.54% of the company's stock.

Zoom Video Communications Price Performance

Shares of ZM stock traded down $0.59 during trading on Tuesday, hitting $82.52. 841,308 shares of the stock traded hands, compared to its average volume of 3,343,265. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The firm has a market capitalization of $25.40 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 5.22 and a beta of -0.03. The firm's fifty day moving average price is $75.22 and its 200-day moving average price is $66.33.

Insider Activity

In related news, CEO Eric S. Yuan sold 2,420 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $68.38, for a total transaction of $165,479.60. Following the completion of the transaction, the chief executive officer now owns 85,514 shares of the company's stock, valued at approximately $5,847,447.32. This trade represents a 2.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 880 shares of the business's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $68.09, for a total value of $59,919.20. Following the completion of the sale, the chief operating officer now directly owns 2,809 shares in the company, valued at approximately $191,264.81. The trade was a 23.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 367,108 shares of company stock valued at $26,796,191 in the last quarter. Insiders own 10.78% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Hsbc Global Res upgraded shares of Zoom Video Communications to a "strong-buy" rating in a research report on Tuesday, November 26th. Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a research note on Friday, October 11th. Evercore ISI raised Zoom Video Communications from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. Piper Sandler upped their target price on Zoom Video Communications from $68.00 to $89.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Finally, Sanford C. Bernstein increased their target price on Zoom Video Communications from $78.00 to $89.00 and gave the company a "market perform" rating in a research report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $85.19.

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.