Cibc World Markets Corp Has $920,000 Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Cibc World Markets Corp trimmed its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 22.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,269 shares of the company's stock after selling 3,324 shares during the quarter. Cibc World Markets Corp's holdings in Zoom Video Communications were worth $920,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. HighTower Advisors LLC raised its holdings in Zoom Video Communications by 449.4% in the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company's stock valued at $4,429,000 after acquiring an additional 52,039 shares in the last quarter. Merit Financial Group LLC bought a new stake in shares of Zoom Video Communications during the fourth quarter valued at approximately $1,072,000. Eagle Asset Management Inc. acquired a new position in shares of Zoom Video Communications in the third quarter valued at $62,038,000. State Street Corp lifted its position in Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company's stock worth $425,853,000 after purchasing an additional 134,559 shares during the period. Finally, Nordea Investment Management AB lifted its position in Zoom Video Communications by 202.8% in the fourth 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. Institutional investors and hedge funds own 66.54% of the company's stock.

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Zoom Video Communications Stock Up 0.8 %

ZM stock traded up $0.62 during trading on Tuesday, hitting $78.82. The company had a trading volume of 307,595 shares, compared to its average volume of 3,038,827. The firm has a 50-day moving average price of $79.97 and a 200-day moving average price of $78.03. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The stock has a market cap of $24.06 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 5.48 and a beta of 0.26.

Insider Activity

In other news, COO Aparna Bawa sold 9,317 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the transaction, the chief operating officer now owns 14,053 shares of the company's stock, valued at $1,105,830.57. This represents a 39.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 75,531 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 369,271 shares of company stock valued at $29,496,892. Company insiders own 10.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ZM shares. Evercore ISI upgraded shares of Zoom Video Communications from an "in-line" rating to an "outperform" rating and raised their price target for the stock from $70.00 to $115.00 in a research note on Tuesday, November 26th. Rosenblatt Securities restated a "buy" rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Morgan Stanley upped their price target on Zoom Video Communications from $86.00 to $96.00 and gave the company an "equal weight" rating in a research report on Wednesday, December 18th. Benchmark reissued a "buy" rating and set a $97.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $87.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $89.33.

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.