State of Alaska Department of Revenue Sells 18,895 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

State of Alaska Department of Revenue cut its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 29.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,000 shares of the company's stock after selling 18,895 shares during the period. State of Alaska Department of Revenue's holdings in Zoom Video Communications were worth $3,672,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Adero Partners LLC boosted 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 valued at $450,000 after buying an additional 129 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company's stock valued at $497,000 after buying an additional 131 shares during the last quarter. MML Investors Services LLC boosted its stake in shares of Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company's stock valued at $655,000 after buying an additional 132 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of 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 buying an additional 145 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of 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 buying an additional 154 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Piper Sandler upped their price target on Zoom Video Communications from $68.00 to $89.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. UBS Group upped 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. Evercore ISI raised Zoom Video Communications from an "in-line" rating to an "outperform" rating and upped their price target for the company from $70.00 to $115.00 in a research report on Tuesday, November 26th. Wells Fargo & Company raised Zoom Video Communications from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $78.00 target price on shares of Zoom Video Communications in a research report on Friday, November 22nd. Sixteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $89.10.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock traded down $0.77 during trading on Wednesday, hitting $83.05. 2,364,279 shares of the stock traded hands, compared to its average volume of 2,256,605. The stock has a market cap of $25.45 billion and a P/E ratio of 27.68. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a fifty day moving average price of $83.29 and a two-hundred day moving average price of $74.91.

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 that occurred 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 transaction, the chief accounting officer now directly owns 3,251 shares of the company's stock, valued at $276,139.94. The trade was a 32.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were 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. In the last ninety days, insiders sold 382,242 shares of company stock worth $31,230,938. 10.78% of the stock is currently owned by insiders.

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.