Dana Investment Advisors Inc. reduced its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 19.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,551 shares of the company's stock after selling 17,908 shares during the quarter. Dana Investment Advisors Inc.'s holdings in Zoom Video Communications were worth $5,921,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of ZM. Global X Japan Co. Ltd. lifted its position in Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after acquiring an additional 190 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after purchasing an additional 258 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of Zoom Video Communications in the 3rd quarter worth approximately $37,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of Zoom Video Communications in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 66.54% of the company's stock.
Wall Street Analyst Weigh In
ZM has been the topic of several analyst reports. Mizuho boosted their target price on Zoom Video Communications from $90.00 to $105.00 and gave the stock an "outperform" rating in a report on Tuesday, November 26th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $87.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Rosenblatt Securities restated a "buy" rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Bank of America upped their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Finally, The Goldman Sachs Group increased their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $90.05.
Check Out Our Latest Report on Zoom Video Communications
Insider Buying and Selling at Zoom Video Communications
In other news, CEO Eric S. Yuan sold 33,751 shares of the business's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total value of $2,655,866.19. Following the sale, the chief executive officer now directly owns 34,703 shares in the company, valued at $2,730,779.07. The trade was a 49.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Shane Crehan sold 1,551 shares of Zoom Video Communications stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $131,741.94. Following the transaction, the chief accounting officer now directly owns 3,251 shares of the company's stock, valued at $276,139.94. The trade was a 32.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 374,440 shares of company stock valued at $29,935,946 over the last 90 days. 10.78% of the stock is currently owned by corporate insiders.
Zoom Video Communications Trading Down 3.3 %
NASDAQ ZM traded down $2.51 on Monday, hitting $73.47. 3,218,399 shares of the company traded hands, compared to its average volume of 2,765,065. The business's 50 day moving average price is $81.31 and its 200-day moving average price is $77.61. The company has a market capitalization of $22.52 billion, a price-to-earnings ratio of 24.49, a P/E/G ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.
Zoom Video Communications 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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