Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 84.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,700 shares of the company's stock after selling 135,300 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in Zoom Video Communications were worth $1,723,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in ZM. Truvestments Capital LLC bought a new position in Zoom Video Communications during the 3rd quarter valued at $37,000. Innealta Capital LLC bought a new position in shares of Zoom Video Communications during the second quarter valued at about $33,000. Allworth Financial LP boosted its holdings in Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company's stock worth $41,000 after purchasing an additional 180 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Zoom Video Communications in the 2nd quarter worth about $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Zoom Video Communications in the 2nd quarter valued at about $41,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.
Zoom Video Communications Price Performance
Zoom Video Communications stock traded up $0.42 during trading hours on Monday, reaching $83.11. The company had a trading volume of 2,942,400 shares, compared to its average volume of 3,354,177. The firm has a market cap of $25.58 billion, a price-to-earnings ratio of 27.70, a P/E/G ratio of 5.22 and a beta of -0.03. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The company has a 50-day moving average price of $75.22 and a 200 day moving average price of $66.33.
Insider Buying and Selling
In related news, COO Aparna Bawa sold 831 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the completion of the transaction, the chief operating officer now owns 1,978 shares in the company, valued at $131,121.62. This represents a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 2,420 shares of Zoom Video Communications stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $68.38, for a total transaction of $165,479.60. Following the completion of the sale, the chief executive officer now owns 85,514 shares in the company, valued at approximately $5,847,447.32. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 367,108 shares of company stock valued at $26,796,191 over the last three months. 10.78% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on ZM shares. Sanford C. Bernstein boosted their target price on Zoom Video Communications from $78.00 to $89.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 26th. JMP Securities restated a "market perform" rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. UBS Group lifted their target price on Zoom Video Communications from $75.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Wells Fargo & Company increased their price objective on Zoom Video Communications from $60.00 to $70.00 and gave the company an "underweight" rating in a report on Tuesday, November 26th. Finally, Benchmark boosted their target price on Zoom Video Communications from $85.00 to $97.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $85.19.
Check Out Our Latest Analysis on Zoom Video Communications
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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