Zacks Investment Management Lowers Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Zacks Investment Management decreased its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 147,728 shares of the company's stock after selling 20,626 shares during the quarter. Zacks Investment Management's holdings in Zoom Video Communications were worth $12,056,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ZM. Merit Financial Group LLC bought a new stake in shares of Zoom Video Communications during the 4th quarter worth approximately $1,072,000. Nordea Investment Management AB grew its holdings in shares of Zoom Video Communications by 202.8% in the fourth quarter. Nordea Investment Management AB now owns 779,051 shares of the company's stock worth $64,054,000 after purchasing an additional 521,778 shares during the last quarter. Retirement Systems of Alabama increased its stake in Zoom Video Communications by 48.1% in the 3rd quarter. Retirement Systems of Alabama now owns 903,797 shares of the company's stock worth $63,031,000 after buying an additional 293,375 shares during the period. Swedbank AB lifted its holdings in Zoom Video Communications by 96.3% during the 4th quarter. Swedbank AB now owns 82,247 shares of the company's stock valued at $6,712,000 after buying an additional 40,351 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in Zoom Video Communications by 8.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 93,872 shares of the company's stock valued at $7,868,000 after buying an additional 7,518 shares during the period. Institutional investors own 66.54% of the company's stock.

Zoom Video Communications Stock Up 1.0 %

Shares of ZM traded up $0.74 during trading hours on Tuesday, reaching $71.23. 346,272 shares of the company traded hands, compared to its average volume of 3,067,665. The business has a fifty day moving average price of $75.09 and a 200-day moving average price of $78.62. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The stock has a market capitalization of $21.74 billion, a P/E ratio of 23.74, a P/E/G ratio of 5.48 and a beta of 0.67.

Insiders Place Their Bets

In other news, COO Aparna Bawa sold 16,099 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total value of $1,168,626.41. Following the sale, the chief operating officer now directly owns 1,978 shares of the company's stock, valued at $143,583.02. This represents a 89.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 242,897 shares of company stock valued at $18,941,111. 10.78% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on ZM. Wells Fargo & Company decreased their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set an "equal weight" rating for the company in a research note on Tuesday. Stifel Nicolaus decreased their price objective on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. Scotiabank dropped their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating on the stock in a report on Monday, March 17th. Benchmark reaffirmed a "buy" rating and issued a $97.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Zoom Video Communications has a consensus rating of "Hold" and a consensus price target of $86.14.

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.