Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Algert Global LLC

Algert Global LLC decreased its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 57.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,221 shares of the company's stock after selling 5,620 shares during the quarter. Algert Global LLC's holdings in Zoom Video Communications were worth $344,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Global X Japan Co. Ltd. increased 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 acquiring an additional 190 shares during the period. Avior Wealth Management LLC increased its holdings in 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 acquiring an additional 265 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of 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 purchasing an additional 258 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Zoom Video Communications during the fourth quarter valued at $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 purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Needham & Company LLC reissued a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Benchmark reissued a "buy" rating and set a $97.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Rosenblatt Securities restated a "buy" rating and set a $90.00 price target on shares of Zoom Video Communications in a research note on Thursday, May 8th. Finally, Morgan Stanley dropped their target price on shares of Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Fifteen investment 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 company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $86.33.

Insider Transactions at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 75,531 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $77.86, for a total value of $192,703.50. Following the transaction, the director now owns 169,452 shares of the company's stock, valued at $13,193,532.72. This represents a 1.44% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,515 shares of company stock valued at $12,132,994. Insiders own 10.78% of the company's stock.

Zoom Video Communications Trading Up 0.9%

ZM stock traded up $0.77 during mid-day trading on Friday, hitting $84.62. 2,108,994 shares of the company were exchanged, compared to its average volume of 3,008,441. The firm has a fifty day simple moving average of $74.99 and a 200 day simple moving average of $79.48. The company has a market capitalization of $25.83 billion, a PE ratio of 28.21, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

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.