Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Tredje AP fonden

Tredje AP fonden cut its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 50.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,249 shares of the company's stock after selling 20,249 shares during the quarter. Tredje AP fonden's holdings in Zoom Video Communications were worth $1,653,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. HighTower Advisors LLC boosted its position in shares of Zoom Video Communications by 449.4% in the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company's stock worth $4,429,000 after buying an additional 52,039 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Zoom Video Communications in the 4th quarter worth about $1,072,000. Eagle Asset Management Inc. purchased a new stake in shares of Zoom Video Communications in the 3rd quarter worth about $62,038,000. State Street Corp boosted its position in shares of Zoom Video Communications by 2.3% in the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company's stock worth $425,853,000 after buying an additional 134,559 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Zoom Video Communications in the 3rd quarter valued at about $712,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ZM. Sanford C. Bernstein upped 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 report on Tuesday, November 26th. Hsbc Global Res upgraded shares of Zoom Video Communications to a "strong-buy" rating in a report on Tuesday, November 26th. Mizuho upped their target price on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an "outperform" rating in a report on Tuesday, November 26th. Barclays reduced their target price on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Finally, Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Fifteen research 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 stock. Based on data from MarketBeat.com, Zoom Video Communications presently has an average rating of "Hold" and a consensus target price of $89.33.

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Zoom Video Communications Trading Up 1.1 %

NASDAQ:ZM traded up $0.81 during trading hours on Wednesday, hitting $76.26. The stock had a trading volume of 1,680,601 shares, compared to its average volume of 3,019,569. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The business has a 50 day simple moving average of $80.20 and a two-hundred day simple moving average of $77.80. The company has a market cap of $23.28 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.

Insider Buying and Selling at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 33,751 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $78.69, for a total transaction of $2,655,866.19. Following the completion of the transaction, the chief executive officer now directly owns 34,703 shares in the company, valued at approximately $2,730,779.07. This represents a 49.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Shane Crehan sold 1,412 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the transaction, the chief accounting officer now owns 5,404 shares of the company's stock, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 369,271 shares of company stock valued at $29,496,892 over the last 90 days. 10.78% of the stock is owned by corporate 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.