Grantham Mayo Van Otterloo & Co. LLC Decreases Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Grantham Mayo Van Otterloo & Co. LLC trimmed its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 9.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 558,539 shares of the company's stock after selling 57,236 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.18% of Zoom Video Communications worth $45,582,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Zoom Video Communications during the 4th quarter worth about $751,908,000. State Street Corp increased its position in Zoom Video Communications by 2.3% during the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company's stock valued at $425,853,000 after purchasing an additional 134,559 shares during the period. Geode Capital Management LLC lifted its holdings in Zoom Video Communications by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock worth $377,429,000 after buying an additional 28,725 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of Zoom Video Communications by 9.8% in the 3rd quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company's stock valued at $101,032,000 after buying an additional 128,800 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Zoom Video Communications by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,367,055 shares of the company's stock worth $111,565,000 after purchasing an additional 69,612 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several brokerages have weighed in on ZM. Rosenblatt Securities reissued a "buy" rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Wednesday, March 19th. Cantor Fitzgerald reissued a "neutral" rating and set a $87.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Wells Fargo & Company upgraded Zoom Video Communications from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. Needham & Company LLC reiterated a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Finally, Citigroup reduced their price objective on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 18th. Fifteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $89.33.

Zoom Video Communications Price Performance

NASDAQ ZM traded down $2.73 during mid-day trading on Thursday, hitting $69.10. The stock had a trading volume of 1,552,658 shares, compared to its average volume of 3,098,174. The firm's 50 day moving average is $77.39 and its 200 day moving average is $78.40. The stock has a market capitalization of $21.09 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

Insider Buying and Selling at Zoom Video Communications

In related news, Director Jonathan Chadwick sold 25,000 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total value of $2,008,250.00. Following the sale, the director now directly owns 1,514 shares in the company, valued at approximately $121,619.62. The trade was a 94.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric S. Yuan sold 118,036 shares of Zoom Video Communications stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $79.03, for a total transaction of $9,328,385.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 337,995 shares of company stock worth $27,033,729. Insiders own 10.78% of the company's stock.

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.