Korea Investment CORP Sells 53,500 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Korea Investment CORP lessened its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 25.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 159,762 shares of the company's stock after selling 53,500 shares during the period. Korea Investment CORP owned about 0.05% of Zoom Video Communications worth $13,038,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZM. The Manufacturers Life Insurance Company grew its stake in shares of Zoom Video Communications by 20.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,125 shares of the company's stock worth $1,125,000 after acquiring an additional 2,714 shares during the period. CreativeOne Wealth LLC boosted its position in Zoom Video Communications by 29.0% during the third quarter. CreativeOne Wealth LLC now owns 8,287 shares of the company's stock worth $578,000 after purchasing an additional 1,862 shares during the period. MetLife Investment Management LLC increased its stake in shares of Zoom Video Communications by 3.4% in the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company's stock worth $322,000 after purchasing an additional 154 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Zoom Video Communications by 59.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,107 shares of the company's stock worth $8,237,000 after purchasing an additional 44,203 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in shares of Zoom Video Communications by 67.6% in the third quarter. Captrust Financial Advisors now owns 11,361 shares of the company's stock valued at $792,000 after purchasing an additional 4,584 shares during the period. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

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Zoom Video Communications Stock Down 6.5 %

Shares of NASDAQ ZM traded down $4.78 during trading hours on Friday, reaching $68.47. 712,677 shares of the stock traded hands, compared to its average volume of 3,077,175. The company's 50-day simple moving average is $79.38 and its two-hundred day simple moving average is $78.35. The company has a market capitalization of $20.90 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Insider Buying and Selling at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 33,751 shares of the firm's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $78.69, for a total transaction of $2,655,866.19. Following the transaction, the chief executive officer now directly owns 34,703 shares of the company's stock, valued at approximately $2,730,779.07. This trade represents a 49.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total value of $2,008,250.00. Following the completion of the sale, the director now directly owns 1,514 shares of the company's stock, valued at approximately $121,619.62. This trade represents a 94.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 371,746 shares of company stock worth $29,689,595 over the last ninety days. Insiders own 10.78% of the company's stock.

Analyst Upgrades and Downgrades

ZM has been the subject of a number of recent research reports. Benchmark reiterated a "buy" rating and issued a $97.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $87.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Stifel Nicolaus dropped their price objective on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. Scotiabank reduced their target price on Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating for the company in a report on Monday, March 17th. Finally, UBS Group lowered their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $89.33.

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.