Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 155,425 shares of the company's stock after selling 10,700 shares during the quarter. New York State Common Retirement Fund owned approximately 0.05% of Zoom Video Communications worth $12,684,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ZM. Adero Partners LLC lifted its stake in shares of Zoom Video Communications by 2.4% during the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company's stock worth $450,000 after purchasing an additional 129 shares during the last quarter. Itau Unibanco Holding S.A. increased its position in shares of Zoom Video Communications by 1.9% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company's stock valued at $497,000 after acquiring an additional 131 shares during the period. MML Investors Services LLC lifted its position in Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company's stock worth $655,000 after acquiring an additional 132 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company's stock valued at $556,000 after purchasing an additional 145 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company's stock valued at $322,000 after purchasing an additional 154 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Up 1.1 %

NASDAQ:ZM traded up $0.82 on Friday, reaching $73.70. The company's stock had a trading volume of 3,077,550 shares, compared to its average volume of 2,695,579. The stock has a 50 day moving average price of $82.54 and a 200 day moving average price of $76.63. The firm has a market cap of $22.59 billion and a price-to-earnings ratio of 24.57. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80.

Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 118,036 shares of the business's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $79.03, for a total value of $9,328,385.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Aparna Bawa sold 9,317 shares of the stock in a transaction on Friday, January 10th. The shares were 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 owns 14,053 shares in the company, valued at approximately $1,105,830.57. The trade was a 39.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 382,242 shares of company stock worth $31,230,938 over the last three months. Insiders own 10.78% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ZM. Benchmark reiterated a "buy" rating and issued a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday. Rosenblatt Securities reaffirmed a "buy" rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday. Cantor Fitzgerald restated a "neutral" rating and issued a $87.00 target price on shares of Zoom Video Communications in a research note on Tuesday. JMP Securities restated a "market perform" rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Finally, The Goldman Sachs Group increased their target price on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Fifteen investment 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 MarketBeat, the company currently has an average rating of "Hold" and an average price target of $90.05.

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.