Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S reduced its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 81.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,790 shares of the company's stock after selling 76,089 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Zoom Video Communications were worth $1,370,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Global X Japan Co. Ltd. raised its holdings in Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after buying an additional 190 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after acquiring an additional 258 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Zoom Video Communications during the 4th quarter worth approximately $39,000. Finally, MRP Capital Investments LLC increased its holdings in Zoom Video Communications by 500.0% in the 4th quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock valued at $49,000 after purchasing an additional 500 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $71.74 on Wednesday. The stock's 50-day moving average is $74.82 and its two-hundred day moving average is $78.57. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The firm has a market cap of $21.90 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 5.48 and a beta of 0.67.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 41,121 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $72.18, for a total transaction of $2,968,113.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Velchamy Sankarlingam sold 11,839 shares of Zoom Video Communications stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total transaction of $851,342.49. Following the completion of the sale, the insider now directly owns 125,529 shares in the company, valued at approximately $9,026,790.39. The trade was a 8.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 242,897 shares of company stock valued at $18,941,111 over the last quarter. Company insiders own 10.78% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wells Fargo & Company lowered their price target on Zoom Video Communications from $85.00 to $75.00 and set an "equal weight" rating for the company in a research report on Tuesday. Benchmark reaffirmed a "buy" rating and issued a $97.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Scotiabank reduced their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating on the stock in a research report on Monday, March 17th. 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. Finally, Citigroup cut their target price on shares of Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 18th. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $86.14.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.