Blair William & Co. IL Cuts Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Blair William & Co. IL lowered its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 26.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 89,552 shares of the company's stock after selling 31,806 shares during the quarter. Blair William & Co. IL's holdings in Zoom Video Communications were worth $7,308,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of Zoom Video Communications during the fourth quarter valued at approximately $99,471,000. Contrarius Group Holdings Ltd purchased a new position in Zoom Video Communications during the 4th quarter valued at $72,854,000. Assenagon Asset Management S.A. raised its holdings in Zoom Video Communications by 126.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company's stock worth $102,119,000 after purchasing an additional 699,625 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Zoom Video Communications by 202.8% in the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company's stock worth $64,054,000 after purchasing an additional 521,778 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Zoom Video Communications during the 4th quarter valued at about $26,344,000. Hedge funds and other institutional investors own 66.54% of the company's stock.

Insider Transactions at Zoom Video Communications

In related news, Director Santiago Subotovsky sold 2,475 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $77.86, for a total value of $192,703.50. Following the transaction, the director now owns 169,452 shares of the company's stock, valued at approximately $13,193,532.72. This trade represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Velchamy Sankarlingam sold 10,817 shares of the company's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $851,189.73. Following the sale, the insider now directly owns 117,760 shares of the company's stock, valued at approximately $9,266,534.40. This represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 371,746 shares of company stock worth $29,689,595 in the last ninety days. Insiders own 10.78% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Citigroup decreased their price target on shares of Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 18th. UBS Group lowered their target price on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Barclays lowered their price objective on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $89.33.

Zoom Video Communications Price Performance

Zoom Video Communications stock traded up $0.93 during midday trading on Wednesday, reaching $74.95. 836,054 shares of the company traded hands, compared to its average volume of 3,084,311. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The business has a 50 day moving average of $79.60 and a two-hundred day moving average of $78.41. The firm has a market capitalization of $22.88 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.

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.