Skandinaviska Enskilda Banken AB publ Cuts Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Skandinaviska Enskilda Banken AB publ trimmed its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 64.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,983 shares of the company's stock after selling 174,019 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Zoom Video Communications were worth $8,106,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. lifted its holdings 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 valued at $28,000 after purchasing an additional 190 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock valued at $29,000 after buying an additional 258 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after acquiring an additional 265 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in Zoom Video Communications in the fourth quarter worth $39,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications in the third quarter worth $37,000. Institutional investors own 66.54% of the company's stock.

Zoom Video Communications Stock Performance

Shares of ZM stock traded up $0.81 during mid-day trading on Wednesday, reaching $76.26. 1,680,390 shares of the company's stock traded hands, compared to its average volume of 3,019,569. The firm has a market capitalization of $23.28 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The firm has a 50 day moving average price of $80.20 and a two-hundred day moving average price of $77.80.

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Insider Buying and Selling at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 10,817 shares of the company'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 value of $851,189.73. Following the completion of the transaction, the insider now directly owns 117,760 shares in the company, valued at $9,266,534.40. This represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 33,751 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $78.69, for a total transaction of $2,655,866.19. Following the completion of the sale, the chief executive officer now directly owns 34,703 shares of the company's stock, valued at approximately $2,730,779.07. This trade represents a 49.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 369,271 shares of company stock valued at $29,496,892. Company insiders own 10.78% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ZM shares. Jefferies Financial Group raised Zoom Video Communications from a "hold" rating to a "buy" rating and lifted their price target for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Benchmark reiterated a "buy" rating and issued a $97.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. UBS Group cut their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Stifel Nicolaus decreased their price objective 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. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $87.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $89.33.

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.