Monaco Asset Management SAM Trims Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Monaco Asset Management SAM lowered its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 95.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,500 shares of the company's stock after selling 163,169 shares during the period. Monaco Asset Management SAM's holdings in Zoom Video Communications were worth $612,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its position 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 buying an additional 2,395,396 shares during the last quarter. State Street Corp grew its position in shares of Zoom Video Communications by 2.3% in the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company's stock valued at $425,853,000 after buying an additional 134,559 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Zoom Video Communications by 4.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company's stock valued at $382,188,000 after buying an additional 233,241 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Zoom Video Communications by 4.2% in the 3rd 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 last quarter. Finally, Two Sigma Advisers LP grew its position in shares of Zoom Video Communications by 9.8% in the 3rd quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company's stock valued at $101,032,000 after buying an additional 128,800 shares during the last quarter. Institutional investors own 66.54% of the company's stock.

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Analyst Upgrades and Downgrades

ZM has been the topic of a number of recent analyst reports. Piper Sandler boosted their price objective on Zoom Video Communications from $68.00 to $89.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Jefferies Financial Group raised Zoom Video Communications from a "hold" rating to a "buy" rating and boosted their price objective for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. Citigroup dropped their price objective on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 18th. Needham & Company LLC reissued a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $89.33.

Insider Activity

In other Zoom Video Communications news, COO Aparna Bawa sold 9,317 shares of the firm's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the completion of the sale, the chief operating officer now directly owns 14,053 shares of the company's stock, valued at $1,105,830.57. This trade represents a 39.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction on Tuesday, February 4th. The shares were 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 sold a total of 369,271 shares of company stock valued at $29,496,892 over the last three months. Corporate insiders own 10.78% of the company's stock.

Zoom Video Communications Trading Up 0.4 %

Shares of ZM stock traded up $0.29 during trading on Tuesday, hitting $75.45. The company's stock had a trading volume of 1,728,697 shares, compared to its average volume of 3,021,418. The company has a market cap of $23.03 billion, a PE ratio of 25.15, a P/E/G ratio of 5.48 and a beta of 0.26. The business has a fifty day moving average of $80.30 and a 200-day moving average of $77.75. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80.

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.