Retirement Systems of Alabama lowered its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 22.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 704,226 shares of the company's stock after selling 199,571 shares during the period. Retirement Systems of Alabama owned 0.23% of Zoom Video Communications worth $57,472,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Zoom Video Communications by 23.8% in the third 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 lifted its stake in Zoom Video Communications by 2.3% during the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company's stock worth $425,853,000 after acquiring an additional 134,559 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Zoom Video Communications by 4.4% during the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company's stock worth $382,188,000 after acquiring an additional 233,241 shares in the last quarter. Geode Capital Management LLC lifted its stake in Zoom Video Communications by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company's stock worth $320,177,000 after acquiring an additional 184,518 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in Zoom Video Communications by 9.8% during the 3rd quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company's stock worth $101,032,000 after acquiring an additional 128,800 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.
Zoom Video Communications Stock Performance
Shares of ZM stock traded down $0.57 during trading hours on Friday, reaching $86.12. The company had a trading volume of 1,826,091 shares, compared to its average volume of 2,158,431. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market capitalization of $26.39 billion and a P/E ratio of 28.71. The stock's fifty day simple moving average is $83.18 and its 200 day simple moving average is $74.33.
Analyst Ratings Changes
Several research firms recently issued reports on ZM. Piper Sandler increased their target price on Zoom Video Communications from $68.00 to $89.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Bank of America increased their price target on Zoom Video Communications from $75.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Scotiabank raised Zoom Video Communications to a "hold" rating in a research report on Tuesday, November 19th. JMP Securities reaffirmed a "market perform" rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $78.00 price objective on shares of Zoom Video Communications in a report on Friday, November 22nd. Sixteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $89.10.
View Our Latest Analysis on ZM
Insider Activity
In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Velchamy Sankarlingam sold 3,618 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $307,312.92. Following the sale, the insider now owns 107,826 shares in the company, valued at $9,158,740.44. The trade was a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 382,242 shares of company stock worth $31,230,938. 10.78% of the stock is currently owned by corporate insiders.
About Zoom Video Communications
(
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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