Mirae Asset Global Investments Co. Ltd. Sells 8,076 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 21.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,791 shares of the company's stock after selling 8,076 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Zoom Video Communications were worth $2,412,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company's stock valued at $867,906,000 after purchasing an additional 2,395,396 shares during the period. State Street Corp grew its stake in shares of Zoom Video Communications by 2.3% during the third quarter. State Street Corp now owns 6,106,293 shares of the company's stock worth $425,853,000 after purchasing an additional 134,559 shares during the period. Pacer Advisors Inc. increased its holdings in Zoom Video Communications by 4.4% in the third quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company's stock valued at $382,188,000 after purchasing an additional 233,241 shares during the last quarter. Geode Capital Management LLC lifted its stake in Zoom Video Communications by 4.2% in the third quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company's stock valued at $320,177,000 after buying an additional 184,518 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in Zoom Video Communications by 9.8% during the third quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company's stock worth $101,032,000 after buying an additional 128,800 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CAO Shane Crehan sold 1,551 shares of the company's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $131,741.94. Following the completion of the sale, the chief accounting officer now directly owns 3,251 shares in the company, valued at $276,139.94. This represents a 32.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The disclosure for this sale can be found here. Insiders have sold a total of 382,242 shares of company stock valued at $31,230,938 in the last ninety days. 10.78% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on ZM. Needham & Company LLC reaffirmed a "hold" rating on shares of Zoom Video Communications in a research note on Friday, January 10th. Royal Bank of Canada reiterated an "outperform" rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Tuesday, November 26th. JMP Securities reissued a "market perform" rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Evercore ISI raised Zoom Video Communications from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $70.00 to $115.00 in a research note on Tuesday, November 26th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $78.00 target price on shares of Zoom Video Communications in a research note on Friday, November 22nd. Sixteen research 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 MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $89.10.

Zoom Video Communications Trading Up 2.5 %

Shares of NASDAQ:ZM traded up $2.11 during trading on Thursday, reaching $85.16. 1,683,387 shares of the stock were exchanged, compared to its average volume of 2,236,823. The firm has a market cap of $26.10 billion and a PE ratio of 28.39. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The stock has a 50-day moving average price of $83.27 and a 200-day moving average price of $74.96.

Zoom Video Communications 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.