LSV Asset Management Sells 121,040 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

LSV Asset Management cut its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 849,560 shares of the company's stock after selling 121,040 shares during the period. LSV Asset Management owned 0.28% of Zoom Video Communications worth $69,333,000 as of its most recent SEC filing.

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

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Insider Buying and Selling at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 83,332 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $77.86, for a total transaction of $192,703.50. Following the completion of the transaction, 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. Over the last three months, insiders sold 198,413 shares of company stock valued at $16,009,889. 10.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ZM has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Rosenblatt Securities reiterated a "buy" rating and issued a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Wells Fargo & Company upgraded shares of Zoom Video Communications from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $70.00 to $85.00 in a research report on Tuesday, January 7th. Citigroup dropped their target price on shares of Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. Finally, Jefferies Financial Group raised Zoom Video Communications from a "hold" rating to a "buy" rating and upped their price target for the company from $85.00 to $100.00 in a report on Thursday, December 19th. Fifteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Zoom Video Communications has an average rating of "Hold" and an average price target of $89.33.

Zoom Video Communications Stock Up 0.9 %

Zoom Video Communications stock traded up $0.64 during trading hours on Monday, hitting $71.98. The stock had a trading volume of 1,660,459 shares, compared to its average volume of 3,098,643. The company has a 50-day moving average of $76.77 and a two-hundred day moving average of $78.49. The company has a market cap of $21.97 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Zoom Video Communications Company 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.