Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Amundi

Amundi lessened its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 34.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 926,223 shares of the company's stock after selling 493,007 shares during the quarter. Amundi owned 0.30% of Zoom Video Communications worth $74,005,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ZM. PNC Financial Services Group Inc. grew its position in shares of Zoom Video Communications by 4.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock worth $330,000 after acquiring an additional 168 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Zoom Video Communications in the 4th quarter worth approximately $826,000. Jackson Creek Investment Advisors LLC grew its position in shares of Zoom Video Communications by 10.3% in the 4th quarter. Jackson Creek Investment Advisors LLC now owns 5,435 shares of the company's stock worth $444,000 after acquiring an additional 508 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its position in shares of Zoom Video Communications by 10.9% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 6,624 shares of the company's stock worth $541,000 after acquiring an additional 651 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. acquired a new position in shares of Zoom Video Communications in the 4th quarter worth approximately $1,999,000. Institutional investors and hedge funds own 66.54% of the company's stock.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $73.15 on Wednesday. The business's fifty day moving average price is $80.95 and its two-hundred day moving average price is $77.67. The company has a market capitalization of $22.42 billion, a P/E ratio of 24.38, a PEG ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

Analyst Ratings Changes

Several research analysts have recently commented on ZM shares. Barclays decreased their target price on 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. JMP Securities reiterated a "market perform" rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Bank of America raised their price target on Zoom Video Communications from $75.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Benchmark reissued a "buy" rating and issued a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Zoom Video Communications has a consensus rating of "Hold" and a consensus target price of $90.05.

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Insider Buying and Selling at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,412 shares of the business's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $111,110.28. Following the sale, the chief accounting officer now owns 5,404 shares of the company's stock, valued at approximately $425,240.76. The trade was a 20.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Aparna Bawa sold 9,317 shares of the business's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the completion of the sale, the chief operating officer now directly owns 14,053 shares in the company, valued at $1,105,830.57. This represents a 39.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 369,271 shares of company stock valued at $29,496,892 in the last quarter. Corporate insiders own 10.78% of the company's stock.

About Zoom Video Communications

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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