Caisse DE Depot ET Placement DU Quebec Decreases Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Caisse DE Depot ET Placement DU Quebec decreased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 7.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,237,901 shares of the company's stock after selling 94,943 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.40% of Zoom Video Communications worth $101,025,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Adero Partners LLC grew its holdings in shares of Zoom Video Communications by 2.4% during the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company's stock valued at $450,000 after buying an additional 129 shares during the last quarter. GAMMA Investing LLC lifted its position in Zoom Video Communications by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company's stock worth $63,000 after acquiring an additional 164 shares during the period. Principal Securities Inc. grew its stake in Zoom Video Communications by 26.9% during the 4th quarter. Principal Securities Inc. now owns 783 shares of the company's stock valued at $64,000 after purchasing an additional 166 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Zoom Video Communications by 4.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company's stock valued at $330,000 after purchasing an additional 168 shares during the period. Finally, Global X Japan Co. Ltd. raised its stake in shares of Zoom Video Communications by 127.5% in 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. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $77.25 on Friday. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The business has a fifty day moving average price of $73.73 and a 200 day moving average price of $78.83. The company has a market cap of $23.58 billion, a P/E ratio of 25.75, a P/E/G ratio of 5.48 and a beta of 0.67.

Analyst Ratings Changes

A number of brokerages recently commented on ZM. Wells Fargo & Company dropped their target price on Zoom Video Communications from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Needham & Company LLC reiterated a "hold" rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Citigroup decreased their target price on shares of Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating for the company in a research report on Tuesday, February 18th. Benchmark reaffirmed a "buy" rating and set a $97.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Scotiabank decreased their price objective on Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating for the company in a report on Monday, March 17th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $85.90.

Insider Activity

In related news, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $75.43, for a total value of $186,689.25. Following the completion of the sale, the director now owns 160,299 shares of the company's stock, valued at approximately $12,091,353.57. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 245,372 shares of company stock worth $19,127,800 over the last three months. Insiders own 10.78% of the company's stock.

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.

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