Guggenheim Capital LLC Reduces Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Guggenheim Capital LLC decreased its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 54.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,009 shares of the company's stock after selling 8,240 shares during the period. Guggenheim Capital LLC's holdings in Zoom Video Communications were worth $572,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC grew its stake in Zoom Video Communications by 2.3% in the 4th quarter. FMR LLC now owns 12,727,532 shares of the company's stock valued at $1,038,694,000 after purchasing an additional 282,645 shares during the period. Norges Bank bought a new position in shares of Zoom Video Communications in the 4th quarter worth about $751,908,000. Geode Capital Management LLC increased its stake in Zoom Video Communications by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock valued at $377,429,000 after purchasing an additional 28,725 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Zoom Video Communications by 9.7% during the 4th quarter. Renaissance Technologies LLC now owns 4,304,848 shares of the company's stock valued at $351,319,000 after acquiring an additional 380,900 shares during the last quarter. Finally, FIL Ltd lifted its holdings in Zoom Video Communications by 3.7% during the fourth quarter. FIL Ltd now owns 3,012,007 shares of the company's stock valued at $245,810,000 after purchasing an additional 108,075 shares in the last quarter. Institutional investors own 66.54% of the company's stock.

Wall Street Analyst Weigh In

ZM has been the subject of several analyst reports. Citigroup decreased their price objective on shares of Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 18th. Benchmark restated a "buy" rating and issued a $97.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Scotiabank dropped their price objective on Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating on the stock in a report on Monday, March 17th. Morgan Stanley lowered their price target on Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, UBS Group reduced their target price on 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. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $85.90.

Zoom Video Communications Stock Performance

ZM traded up $0.13 during midday trading on Monday, reaching $76.16. 1,911,567 shares of the company were exchanged, compared to its average volume of 3,049,296. The company has a market cap of $23.25 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The company's fifty day moving average price is $74.02 and its 200 day moving average price is $78.79.

Insider Activity

In other news, COO Aparna Bawa sold 16,099 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares of the company's stock, valued at $143,583.02. The trade was a 89.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the sale, the director now directly owns 169,452 shares of the company's stock, valued at approximately $13,193,532.72. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 245,372 shares of company stock worth $19,127,800 over the last ninety days. Company 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.