Illinois Municipal Retirement Fund lessened its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 9.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 202,000 shares of the company's stock after selling 22,127 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.07% of Zoom Video Communications worth $16,485,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. lifted its position in shares of Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after buying an additional 190 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 265 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of Zoom Video Communications in the third quarter valued at about $37,000. Geneos Wealth Management Inc. purchased a new stake in shares of Zoom Video Communications during the fourth quarter worth about $39,000. Finally, Allworth Financial LP raised its position in shares of Zoom Video Communications by 43.8% during the 3rd 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. Hedge funds and other institutional investors own 66.54% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the company. Piper Sandler lifted their price objective on Zoom Video Communications from $68.00 to $89.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Hsbc Global Res raised Zoom Video Communications to a "strong-buy" rating in a research note on Tuesday, November 26th. Citigroup reduced their price objective on 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 reaffirmed a "buy" rating and set a $97.00 target price on shares of Zoom Video Communications in a research note on Tuesday. Finally, Wells Fargo & Company upgraded shares of Zoom Video Communications from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $70.00 to $85.00 in a research report on Tuesday, January 7th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Zoom Video Communications has a consensus rating of "Hold" and an average target price of $90.05.
Read Our Latest Report on Zoom Video Communications
Zoom Video Communications Trading Up 1.1 %
ZM traded up $0.82 on Friday, hitting $73.70. The company had a trading volume of 3,080,060 shares, compared to its average volume of 2,697,621. The firm has a market cap of $22.59 billion and a P/E ratio of 24.57. The company's fifty day moving average price is $82.54 and its 200 day moving average price is $76.63. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80.
Insider Activity at Zoom Video Communications
In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Shane Crehan sold 1,551 shares of the business's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $131,741.94. Following the sale, the chief accounting officer now owns 3,251 shares in the company, valued at $276,139.94. This trade represents a 32.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 382,242 shares of company stock worth $31,230,938. Insiders own 10.78% of the company's stock.
Zoom Video Communications Company 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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