Diversified Trust Co Sells 12,492 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Diversified Trust Co trimmed its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 36.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,100 shares of the company's stock after selling 12,492 shares during the quarter. Diversified Trust Co's holdings in Zoom Video Communications were worth $1,804,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its holdings in Zoom Video Communications by 23.8% in the third quarter. FMR LLC now owns 12,444,887 shares of the company's stock valued at $867,906,000 after purchasing an additional 2,395,396 shares during the period. State Street Corp grew its position in shares of Zoom Video Communications by 2.3% in the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company's stock valued at $425,853,000 after buying an additional 134,559 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company's stock valued at $337,233,000 after buying an additional 2,520,987 shares during the period. Pacer Advisors Inc. raised its position in shares of Zoom Video Communications by 4.4% during the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company's stock worth $382,188,000 after acquiring an additional 233,241 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Zoom Video Communications by 4.2% in the third quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company's stock worth $320,177,000 after acquiring an additional 184,518 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Stock Down 0.7 %

NASDAQ:ZM traded down $0.55 during trading hours on Thursday, hitting $79.90. 2,850,714 shares of the company traded hands, compared to its average volume of 2,168,359. The company has a market cap of $24.49 billion, a PE ratio of 26.63, a PEG ratio of 5.29 and a beta of -0.01. The firm's 50-day simple moving average is $82.88 and its 200-day simple moving average is $70.76. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Benchmark lifted their price objective on Zoom Video Communications from $85.00 to $97.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Morgan Stanley boosted their price target on Zoom Video Communications from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 18th. Bank of America raised their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Wells Fargo & Company upgraded shares of Zoom Video Communications from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $70.00 to $85.00 in a research report on Tuesday. Finally, Needham & Company LLC reissued a "hold" rating on shares of Zoom Video Communications in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $87.81.

Insider Activity

In other Zoom Video Communications news, Director Jonathan Chadwick sold 12,500 shares of the business's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $68.36, for a total value of $854,500.00. Following the transaction, the director now owns 1,514 shares of the company's stock, valued at approximately $103,497.04. The trade was a 89.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Aparna Bawa sold 10,520 shares of the firm's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $68.59, for a total value of $721,566.80. Following the sale, the chief operating officer now directly owns 1,978 shares of the company's stock, valued at approximately $135,671.02. This represents a 84.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 338,315 shares of company stock worth $26,197,660 over the last quarter. Insiders own 10.78% of the company's stock.

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.