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

Blue Trust Inc. decreased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 67.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,644 shares of the company's stock after selling 3,461 shares during the quarter. Blue Trust Inc.'s holdings in Zoom Video Communications were worth $134,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ZM. Itau Unibanco Holding S.A. raised its holdings in shares of Zoom Video Communications by 1.9% during the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company's stock valued at $497,000 after acquiring an additional 131 shares during the last quarter. MML Investors Services LLC raised its holdings in shares of Zoom Video Communications by 1.4% during the third quarter. MML Investors Services LLC now owns 9,395 shares of the company's stock valued at $655,000 after acquiring an additional 132 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Zoom Video Communications by 1.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company's stock valued at $556,000 after acquiring an additional 145 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of Zoom Video Communications by 3.4% during the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company's stock valued at $322,000 after acquiring an additional 154 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Zoom Video Communications by 27.1% in the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company's stock valued at $63,000 after purchasing an additional 164 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

Zoom Video Communications Stock Performance

ZM stock traded down $0.57 on Friday, reaching $86.12. The company had a trading volume of 1,826,091 shares, compared to its average volume of 2,158,431. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The company's fifty day moving average is $83.18 and its 200 day moving average is $74.43. The company has a market cap of $26.39 billion and a P/E ratio of 28.71.

Analyst Ratings Changes

Several research analysts recently weighed in on ZM shares. The Goldman Sachs Group increased their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. JMP Securities reiterated a "market perform" rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Hsbc Global Res upgraded Zoom Video Communications to a "strong-buy" rating in a research report on Tuesday, November 26th. Bank of America increased their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Finally, Cantor Fitzgerald started coverage on Zoom Video Communications in a research report on Friday, January 17th. They issued a "neutral" rating and a $87.00 price objective for the company. Sixteen research 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, the stock has an average rating of "Hold" and an average price target of $89.10.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of the 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total value of $2,008,250.00. Following the transaction, the director now directly owns 1,514 shares in the company, valued at approximately $121,619.62. This represents a 94.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 382,242 shares of company stock valued at $31,230,938. 10.78% of the stock is owned by corporate insiders.

Zoom Video Communications Company 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.