HighTower Advisors LLC reduced its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,344 shares of the company's stock after selling 4,274 shares during the quarter. HighTower Advisors LLC's holdings in Zoom Video Communications were worth $4,843,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Adero Partners LLC raised its position in Zoom Video Communications by 2.4% in the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company's stock worth $450,000 after purchasing an additional 129 shares during the period. Itau Unibanco Holding S.A. grew its stake in Zoom Video Communications by 1.9% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company's stock worth $497,000 after acquiring an additional 131 shares in the last quarter. MML Investors Services LLC grew its stake in Zoom Video Communications by 1.4% in the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company's stock worth $655,000 after acquiring an additional 132 shares in the last quarter. MetLife Investment Management LLC grew its stake in Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company's stock worth $322,000 after acquiring an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Zoom Video Communications by 27.1% in the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company's stock worth $63,000 after acquiring an additional 164 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.
Zoom Video Communications Stock Performance
NASDAQ:ZM traded down $0.06 during midday trading on Friday, reaching $75.97. 6,268,809 shares of the stock traded hands, compared to its average volume of 3,043,251. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The business has a 50-day moving average of $79.98 and a two-hundred day moving average of $77.88. The stock has a market capitalization of $23.19 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.
Insiders Place Their Bets
In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Velchamy Sankarlingam sold 10,817 shares of the firm's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $851,189.73. Following the completion of the transaction, the insider now directly owns 117,760 shares of the company's stock, valued at approximately $9,266,534.40. This represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 369,271 shares of company stock valued at $29,496,892. Insiders own 10.78% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on ZM shares. Morgan Stanley upped their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research note on Wednesday, December 18th. Hsbc Global Res upgraded shares of Zoom Video Communications to a "strong-buy" rating in a research note on Tuesday, November 26th. Royal Bank of Canada restated an "outperform" rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday. Cantor Fitzgerald restated a "neutral" rating and issued a $87.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications currently has an average rating of "Hold" and a consensus price target of $89.33.
View Our Latest Research Report 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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