Sicart Associates LLC Lowers Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Sicart Associates LLC lessened its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 9.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,704 shares of the company's stock after selling 5,377 shares during the quarter. Zoom Video Communications makes up about 1.6% of Sicart Associates LLC's investment portfolio, making the stock its 26th largest position. Sicart Associates LLC's holdings in Zoom Video Communications were worth $4,383,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of ZM. Truvestments Capital LLC bought a new position in shares of Zoom Video Communications in the 3rd quarter valued at about $37,000. Allworth Financial LP raised its stake in shares of Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company's stock valued at $41,000 after acquiring an additional 180 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of Zoom Video Communications by 56.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company's stock worth $53,000 after acquiring an additional 274 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Zoom Video Communications by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company's stock worth $63,000 after purchasing an additional 164 shares during the period. Finally, True Wealth Design LLC grew its holdings in Zoom Video Communications by 10,763.6% during the 3rd quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock valued at $83,000 after purchasing an additional 1,184 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective 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. UBS Group raised their price target on Zoom Video Communications from $75.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Scotiabank raised Zoom Video Communications to a "hold" rating in a research report on Tuesday, November 19th. Piper Sandler lifted their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Finally, Stifel Nicolaus increased their price objective on Zoom Video Communications from $70.00 to $90.00 and gave the stock a "hold" rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $87.77.

Zoom Video Communications Price Performance

ZM traded down $1.37 on Friday, reaching $78.07. 2,923,674 shares of the stock were exchanged, compared to its average volume of 2,162,487. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm has a market capitalization of $23.93 billion, a PE ratio of 26.02, a PEG ratio of 4.97 and a beta of -0.01. The company's 50-day moving average price is $83.05 and its 200 day moving average price is $71.50.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 35,722 shares of the company's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $71.45, for a total value of $2,552,336.90. Following the sale, the chief executive officer now owns 57,371 shares in the company, valued at $4,099,157.95. This represents a 38.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Shane Crehan sold 1,551 shares of the firm's stock in a transaction dated 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 directly owns 3,251 shares in the company, valued at approximately $276,139.94. This trade represents a 32.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 525,703 shares of company stock worth $41,265,285. 10.78% of the stock is owned by company insiders.

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.