Caisse DE Depot ET Placement DU Quebec Reduces Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Caisse DE Depot ET Placement DU Quebec lowered its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 13.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,332,844 shares of the company's stock after selling 215,654 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.43% of Zoom Video Communications worth $92,953,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. bought a new position in shares of Zoom Video Communications in the 1st quarter valued at $260,000. Comerica Bank increased its stake in shares of Zoom Video Communications by 15.6% in the 1st quarter. Comerica Bank now owns 4,966 shares of the company's stock valued at $325,000 after purchasing an additional 670 shares during the last quarter. Swedbank AB bought a new position in shares of Zoom Video Communications in the 1st quarter valued at $2,100,000. Cetera Advisors LLC boosted its holdings in shares of Zoom Video Communications by 52.1% during the 1st quarter. Cetera Advisors LLC now owns 6,307 shares of the company's stock valued at $412,000 after acquiring an additional 2,160 shares in the last quarter. Finally, DNB Asset Management AS boosted its holdings in shares of Zoom Video Communications by 4.8% during the 2nd quarter. DNB Asset Management AS now owns 41,219 shares of the company's stock valued at $2,440,000 after acquiring an additional 1,903 shares in the last quarter. Institutional investors own 66.54% of the company's stock.

Zoom Video Communications Trading Down 3.1 %

Shares of NASDAQ:ZM traded down $2.67 on Friday, reaching $82.69. 3,233,858 shares of the company traded hands, compared to its average volume of 4,403,806. The business's 50-day simple moving average is $75.22 and its 200 day simple moving average is $66.33. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The stock has a market capitalization of $25.45 billion, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 5.51 and a beta of -0.05.

Insiders Place Their Bets

In other Zoom Video Communications news, COO Aparna Bawa sold 831 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the transaction, the chief operating officer now owns 1,978 shares of the company's stock, valued at approximately $131,121.62. This trade represents a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kelly Steckelberg sold 8,901 shares of the firm's stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $66.47, for a total transaction of $591,649.47. The disclosure for this sale can be found here. Insiders sold 367,108 shares of company stock worth $26,796,191 over the last three months. Company insiders own 10.78% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on ZM. Rosenblatt Securities reissued a "buy" rating and set a $78.00 price objective on shares of Zoom Video Communications in a report on Friday, November 22nd. Evercore ISI raised Zoom Video Communications from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $70.00 to $115.00 in a report on Tuesday, November 26th. Piper Sandler boosted their target price on Zoom Video Communications from $68.00 to $89.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. UBS Group boosted their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Finally, Wedbush started coverage on Zoom Video Communications in a research report on Thursday, October 17th. They issued an "outperform" rating and a $85.00 target price for the company. 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 given a strong buy rating to the stock. According to data from MarketBeat, Zoom Video Communications currently has a consensus rating of "Hold" and an average price target of $85.19.

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.