Zoom Video Communications, Inc. (NASDAQ:ZM) Position Trimmed by Sei Investments Co.

Sei Investments Co. lessened its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,651 shares of the company's stock after selling 12,794 shares during the quarter. Sei Investments Co.'s holdings in Zoom Video Communications were worth $10,662,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ZM. Global X Japan Co. Ltd. lifted its stake in shares of Zoom Video Communications by 127.5% during the 4th 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 period. Avior Wealth Management LLC raised its holdings in shares of Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after buying an additional 265 shares during the period. Parkside Financial Bank & Trust lifted its position in Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after acquiring an additional 258 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in Zoom Video Communications in the fourth quarter valued at approximately $39,000. Finally, MRP Capital Investments LLC raised its stake in shares of Zoom Video Communications by 500.0% during the fourth 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 period. Institutional investors and hedge funds own 66.54% of the company's stock.

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Insider Buying and Selling at Zoom Video Communications

In related news, COO Aparna Bawa sold 9,317 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the transaction, the chief operating officer now owns 14,053 shares in the company, valued at $1,105,830.57. This trade represents a 39.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Shane Crehan sold 1,412 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 5,404 shares of the company's stock, valued at $425,240.76. This trade represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 371,746 shares of company stock valued at $29,689,595 in the last quarter. Corporate insiders own 10.78% of the company's stock.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM traded up $0.84 during trading hours on Wednesday, hitting $74.86. The stock had a trading volume of 710,401 shares, compared to its average volume of 2,561,277. The stock's fifty day simple moving average is $79.60 and its 200 day simple moving average is $78.41. The firm has a market capitalization of $22.85 billion, a price-to-earnings ratio of 24.95, 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.

Wall Street Analyst Weigh In

ZM has been the topic of several analyst reports. Citigroup dropped their price target 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. Morgan Stanley raised their price objective on Zoom Video Communications from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 18th. Benchmark reiterated a "buy" rating and set a $97.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Finally, Barclays cut their price target on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $89.33.

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.