Vinva Investment Management Ltd lowered its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 13.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,647 shares of the company's stock after selling 10,641 shares during the quarter. Vinva Investment Management Ltd's holdings in Zoom Video Communications were worth $5,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZM. Global X Japan Co. Ltd. lifted its holdings in shares of Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after purchasing an additional 190 shares during the last quarter. Avior Wealth Management LLC raised its stake in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after buying an additional 265 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after buying an additional 258 shares during the last quarter. Truvestments Capital LLC acquired a new stake in Zoom Video Communications in the third quarter worth about $37,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of Zoom Video Communications during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 66.54% of the company's stock.
Analysts Set New Price Targets
Several brokerages recently commented on ZM. Barclays decreased their price objective on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group raised their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Sanford C. Bernstein boosted their price objective 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. JMP Securities reissued a "market perform" rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Fifteen 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. According to MarketBeat.com, Zoom Video Communications currently has an average rating of "Hold" and an average price target of $89.33.
Get Our Latest Analysis on ZM
Insider Buying and Selling
In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Velchamy Sankarlingam sold 10,817 shares of Zoom Video Communications stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $851,189.73. Following the completion of the sale, the insider now owns 117,760 shares in the company, valued at approximately $9,266,534.40. This trade represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 369,271 shares of company stock valued at $29,496,892. 10.78% of the stock is owned by company insiders.
Zoom Video Communications Trading Up 2.9 %
Shares of Zoom Video Communications stock traded up $2.23 during trading hours on Monday, reaching $78.20. The stock had a trading volume of 1,969,972 shares, compared to its average volume of 3,038,958. The stock's 50 day moving average is $79.98 and its 200 day moving average is $77.95. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The firm has a market capitalization of $23.87 billion, a PE ratio of 26.07, a PEG ratio of 5.48 and a beta of 0.26.
About Zoom Video Communications
(
Free Report)
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.
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