Kerrisdale Advisers LLC Lowers Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Kerrisdale Advisers LLC lessened its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 44.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,089 shares of the company's stock after selling 40,145 shares during the period. Zoom Video Communications makes up 1.4% of Kerrisdale Advisers LLC's holdings, making the stock its 19th biggest position. Kerrisdale Advisers LLC's holdings in Zoom Video Communications were worth $4,088,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ZM. Global X Japan Co. Ltd. increased its holdings 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 valued at $28,000 after purchasing an additional 190 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in 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 buying an additional 258 shares in the last quarter. Avior Wealth Management LLC raised its position in shares of 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 during the period. Geneos Wealth Management Inc. purchased a new stake in shares of Zoom Video Communications during the 4th quarter worth about $39,000. Finally, MRP Capital Investments LLC boosted its stake in shares of Zoom Video Communications by 500.0% during the 4th quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock worth $49,000 after acquiring an additional 500 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of the stock in a transaction dated Tuesday, February 4th. The shares were 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Velchamy Sankarlingam sold 11,839 shares of Zoom Video Communications stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total transaction of $851,342.49. Following the sale, the insider now owns 125,529 shares of the company's stock, valued at approximately $9,026,790.39. This represents a 8.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 242,897 shares of company stock worth $18,941,111 in the last quarter. Company insiders own 10.78% of the company's stock.

Zoom Video Communications Trading Up 0.7 %

NASDAQ ZM traded up $0.54 on Friday, reaching $76.03. 1,300,179 shares of the company were exchanged, compared to its average volume of 3,053,864. The business's fifty day moving average price is $74.20 and its 200 day moving average price is $78.69. The stock 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. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Barclays cut their price target on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. UBS Group cut their price objective on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Benchmark reiterated a "buy" rating and set a $97.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Morgan Stanley cut their price target on shares of Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Scotiabank reduced their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating for the company in a research report on Monday, March 17th. Fifteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $85.90.

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.