Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 356,935 shares of the company's stock after selling 41,943 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.12% of Zoom Video Communications worth $29,129,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. raised its holdings in shares of Zoom Video Communications by 127.5% during the fourth 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 during the last quarter. Avior Wealth Management LLC raised its stake in Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after acquiring an additional 265 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after acquiring an additional 258 shares during the period. Truvestments Capital LLC bought a new position in shares of Zoom Video Communications in the third quarter worth $37,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Zoom Video Communications during the fourth quarter valued at $39,000. 66.54% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the stock. Benchmark reaffirmed a "buy" rating and issued a $97.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Citigroup reduced their price target on shares of 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. 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 note on Tuesday, January 7th. Morgan Stanley boosted their target price on Zoom Video Communications from $86.00 to $96.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 18th. Finally, Stifel Nicolaus decreased their price target on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $89.33.
Read Our Latest Stock Analysis on ZM
Zoom Video Communications Stock Down 2.5 %
Shares of ZM traded down $1.94 during mid-day trading on Friday, reaching $74.84. The company's stock had a trading volume of 1,515,267 shares, compared to its average volume of 3,102,337. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The company has a market cap of $22.84 billion, a price-to-earnings ratio of 24.95, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. The business has a fifty day moving average of $79.78 and a 200 day moving average of $78.23.
Insider Buying and Selling at Zoom Video Communications
In other Zoom Video Communications news, CAO Shane Crehan sold 1,412 shares of the business's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $111,110.28. Following the transaction, the chief accounting officer now owns 5,404 shares in the company, valued at $425,240.76. The trade was a 20.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of the firm's 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 disclosure for this sale can be found here. Insiders have sold a total of 371,746 shares of company stock valued at $29,689,595 in the last 90 days. 10.78% of the stock is currently owned by corporate insiders.
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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