Canada Pension Plan Investment Board reduced its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 24.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 188,194 shares of the company's stock after selling 59,348 shares during the period. Canada Pension Plan Investment Board owned 0.06% of Zoom Video Communications worth $15,359,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Global X Japan Co. Ltd. lifted its position in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after purchasing an additional 190 shares during the last quarter. Avior Wealth Management LLC grew its holdings in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after purchasing an additional 265 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after acquiring an additional 258 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in Zoom Video Communications during the 4th quarter worth approximately $39,000. Finally, MRP Capital Investments LLC increased its position in shares of Zoom Video Communications by 500.0% in the 4th quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock valued at $49,000 after acquiring an additional 500 shares during the period. Institutional investors own 66.54% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. Stifel Nicolaus cut their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. Benchmark restated a "buy" rating and set a $97.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Barclays reduced their target price on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Wednesday, March 19th. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $86.14.
Check Out Our Latest Stock Analysis on ZM
Zoom Video Communications Stock Performance
Shares of NASDAQ:ZM traded up $1.09 during midday trading on Wednesday, reaching $72.83. 1,514,167 shares of the company's stock were exchanged, compared to its average volume of 3,062,939. The company's 50 day simple moving average is $74.58 and its two-hundred day simple moving average is $78.53. The firm has a market capitalization of $22.23 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80.
Insider Buying and Selling at Zoom Video Communications
In other news, CEO Eric S. Yuan sold 83,332 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Aparna Bawa sold 16,099 shares of the business's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the transaction, the chief operating officer now owns 1,978 shares in the company, valued at approximately $143,583.02. The trade was a 89.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 242,897 shares of company stock worth $18,941,111. 10.78% of the stock is currently owned by corporate insiders.
Zoom Video Communications Company Profile
(
Free Report)
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.
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