Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Easterly Investment Partners LLC

Easterly Investment Partners LLC lowered its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 24.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,362 shares of the company's stock after selling 27,317 shares during the quarter. Easterly Investment Partners LLC's holdings in Zoom Video Communications were worth $6,722,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ZM. Adero Partners LLC raised its holdings in shares of Zoom Video Communications by 2.4% in the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company's stock valued at $450,000 after purchasing an additional 129 shares in the last quarter. Itau Unibanco Holding S.A. increased its holdings in Zoom Video Communications by 1.9% during the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company's stock valued at $497,000 after buying an additional 131 shares during the period. MML Investors Services LLC raised its stake in Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company's stock worth $655,000 after buying an additional 132 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Zoom Video Communications by 3.4% during the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company's stock worth $322,000 after buying an additional 154 shares during the period. Finally, GAMMA Investing LLC boosted its position in Zoom Video Communications by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company's stock valued at $63,000 after acquiring an additional 164 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

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Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM traded down $1.94 during midday trading on Friday, hitting $74.84. The company's stock had a trading volume of 1,515,267 shares, compared to its average volume of 3,102,337. The company has a market cap of $22.84 billion, a P/E ratio of 24.95, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The business's 50 day simple moving average is $79.78 and its 200 day simple moving average is $78.23.

Wall Street Analysts Forecast Growth

ZM has been the subject of several recent research reports. Stifel Nicolaus reduced their price target on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a research report on Tuesday, February 25th. UBS Group cut their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. Benchmark reissued a "buy" rating and set a $97.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Wednesday, March 19th. Finally, Scotiabank reduced their price target on Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating on the stock in a research report on Monday, March 17th. Fifteen investment 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $89.33.

Insider Transactions at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 75,531 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Shane Crehan sold 1,412 shares of the business's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $111,110.28. Following the completion of the transaction, the chief accounting officer now owns 5,404 shares in the company, valued at $425,240.76. The trade was a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 371,746 shares of company stock worth $29,689,595 in the last ninety days. Insiders own 10.78% of the company's stock.

About Zoom Video Communications

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.