Rockefeller Capital Management L.P. Has $1.04 Million Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Rockefeller Capital Management L.P. cut its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 92.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,956 shares of the company's stock after selling 193,536 shares during the period. Rockefeller Capital Management L.P.'s holdings in Zoom Video Communications were worth $1,043,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Comerica Bank raised its position in Zoom Video Communications by 15.6% in the first quarter. Comerica Bank now owns 4,966 shares of the company's stock worth $325,000 after acquiring an additional 670 shares in the last quarter. Cetera Advisors LLC boosted its holdings in Zoom Video Communications by 52.1% during the first quarter. Cetera Advisors LLC now owns 6,307 shares of the company's stock worth $412,000 after buying an additional 2,160 shares in the last quarter. CWM LLC grew its position in Zoom Video Communications by 6.0% in the second quarter. CWM LLC now owns 8,304 shares of the company's stock worth $492,000 after buying an additional 471 shares during the last quarter. Diversified Trust Co increased its holdings in shares of Zoom Video Communications by 21.1% in the second quarter. Diversified Trust Co now owns 44,107 shares of the company's stock valued at $2,611,000 after buying an additional 7,685 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Zoom Video Communications by 2.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,311 shares of the company's stock valued at $669,000 after acquiring an additional 273 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Insider Activity at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,550 shares of the firm's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $103,648.50. Following the sale, the chief accounting officer now directly owns 1,463 shares of the company's stock, valued at approximately $97,830.81. This trade represents a 51.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 438,240 shares of company stock valued at $32,919,913. Corporate insiders own 10.78% of the company's stock.

Zoom Video Communications Stock Down 0.7 %

Shares of NASDAQ:ZM traded down $0.64 on Monday, reaching $85.58. The company had a trading volume of 3,515,115 shares, compared to its average volume of 3,344,585. The stock has a market capitalization of $26.23 billion, a P/E ratio of 28.53, a P/E/G ratio of 5.44 and a beta of -0.03. The stock has a 50-day moving average price of $77.02 and a 200 day moving average price of $67.19. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ZM shares. Evercore ISI upgraded Zoom Video Communications from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $70.00 to $115.00 in a report on Tuesday, November 26th. Stifel Nicolaus lifted their target price on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a "hold" rating in a research report on Tuesday, November 26th. Wells Fargo & Company boosted their price target on shares of Zoom Video Communications from $60.00 to $70.00 and gave the company an "underweight" rating in a report on Tuesday, November 26th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research note on Friday, November 22nd. Finally, Sanford C. Bernstein boosted their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a "market perform" rating in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Zoom Video Communications has a consensus rating of "Hold" and an average price target of $85.19.

About Zoom Video Communications

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.