UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 1,584,221 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 27.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,086,250 shares of the company's stock after selling 1,584,221 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.33% of Zoom Video Communications worth $284,975,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ZM. FMR LLC lifted its holdings in Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company's stock worth $867,906,000 after buying an additional 2,395,396 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Zoom Video Communications by 78.5% during the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company's stock worth $337,233,000 after acquiring an additional 2,520,987 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Zoom Video Communications by 4.4% in the third 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. Acadian Asset Management LLC lifted its stake in shares of Zoom Video Communications by 60.9% in the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company's stock worth $290,153,000 after acquiring an additional 1,855,679 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Zoom Video Communications by 24.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company's stock valued at $80,827,000 after purchasing an additional 264,217 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,550 shares of the firm's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total transaction of $103,648.50. Following the completion of the transaction, the chief accounting officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Aparna Bawa sold 831 shares of the firm's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total transaction of $55,086.99. Following the transaction, the chief operating officer now directly owns 1,978 shares of the company's stock, valued at $131,121.62. The trade was a 29.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 367,108 shares of company stock valued at $26,796,191 in the last quarter. Insiders own 10.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ZM shares. Wells Fargo & Company raised their price target on shares of Zoom Video Communications from $60.00 to $70.00 and gave the stock an "underweight" rating in a research report on Tuesday. Royal Bank of Canada reissued an "outperform" rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday. Robert W. Baird reduced their price target on shares of Zoom Video Communications from $84.00 to $77.00 and set an "outperform" rating on the stock in a research report on Thursday, August 22nd. Piper Sandler boosted their price objective on Zoom Video Communications from $68.00 to $89.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the company a "hold" rating in a research note on Friday, August 23rd. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $85.19.

Zoom Video Communications Stock Performance

NASDAQ ZM traded down $2.67 during trading hours on Friday, reaching $82.69. 3,233,858 shares of the company's stock were exchanged, compared to its average volume of 4,403,806. The company has a market capitalization of $25.45 billion, a price-to-earnings ratio of 27.56, a price-to-earnings-growth ratio of 5.69 and a beta of -0.05. The company's 50-day moving average is $75.22 and its two-hundred day moving average is $66.30. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

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.