National Pension Service Decreases Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

National Pension Service trimmed its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 614,084 shares of the company's stock after selling 41,143 shares during the quarter. National Pension Service owned 0.20% of Zoom Video Communications worth $50,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Raymond James & Associates grew its holdings in shares of Zoom Video Communications by 0.7% during the third quarter. Raymond James & Associates now owns 53,089 shares of the company's stock valued at $3,702,000 after buying an additional 383 shares during the last quarter. Allworth Financial LP lifted its position in Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company's stock worth $41,000 after acquiring an additional 180 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Zoom Video Communications by 93.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,867 shares of the company's stock valued at $2,564,000 after purchasing an additional 17,831 shares during the last quarter. PFG Investments LLC purchased a new position in shares of Zoom Video Communications in the third quarter worth about $228,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Zoom Video Communications by 558.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 74,492 shares of the company's stock worth $5,195,000 after purchasing an additional 63,181 shares during the period. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Rosenblatt Securities reaffirmed a "buy" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. The Goldman Sachs Group boosted their target price on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Stifel Nicolaus reduced their price objective 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. Barclays lowered their target price on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday, November 26th. 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. Based on data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of "Hold" and an average price target of $90.05.

Insider Buying and Selling

In other Zoom Video Communications news, CAO Shane Crehan sold 1,551 shares of Zoom Video Communications stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $131,741.94. Following the sale, the chief accounting officer now owns 3,251 shares in the company, valued at $276,139.94. The trade was 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 through the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of the 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. Over the last 90 days, insiders have sold 382,242 shares of company stock worth $31,230,938. 10.78% of the stock is owned by corporate insiders.

Zoom Video Communications Trading Up 0.8 %

ZM stock traded up $0.61 during mid-day trading on Monday, reaching $74.31. The company's stock had a trading volume of 3,261,220 shares, compared to its average volume of 2,707,352. The company's 50 day moving average is $82.30 and its two-hundred day moving average is $77.04. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The stock has a market cap of $22.78 billion and a PE ratio of 24.77.

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.