Pinebridge Investments L.P. cut its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,605 shares of the company's stock after selling 11,168 shares during the quarter. Pinebridge Investments L.P.'s holdings in Zoom Video Communications were worth $8,700,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. raised its stake in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after purchasing an additional 190 shares during the last quarter. Avior Wealth Management LLC lifted its stake 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 period. Parkside Financial Bank & Trust boosted its holdings in shares of Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after acquiring an additional 258 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Zoom Video Communications during the fourth quarter worth about $39,000. Finally, MRP Capital Investments LLC raised its holdings in Zoom Video Communications by 500.0% during the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock worth $49,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.
Wall Street Analyst Weigh In
ZM has been the topic of a number of analyst reports. Cantor Fitzgerald restated a "neutral" rating and issued a $87.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Morgan Stanley lowered their price target on shares of Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Needham & Company LLC reiterated a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Mizuho decreased their price objective on shares of Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Stifel Nicolaus dropped their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $85.90.
View Our Latest Analysis on ZM
Zoom Video Communications Stock Performance
Shares of ZM stock traded up $0.54 during trading hours on Friday, reaching $76.03. The company had a trading volume of 1,300,179 shares, compared to its average volume of 3,053,864. The company has a market capitalization of $23.21 billion, a P/E ratio of 25.34, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. The stock's fifty day simple moving average is $74.20 and its 200 day simple moving average is $78.75. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.
Insider Activity at Zoom Video Communications
In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of Zoom Video Communications stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the completion of the transaction, the director now directly owns 169,452 shares of the company's stock, valued at approximately $13,193,532.72. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 242,897 shares of company stock valued at $18,941,111 over the last three months. 10.78% of the stock is owned by insiders.
Zoom Video Communications Company Profile
(
Free Report)
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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