Two Sigma Investments LP Lowers Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Two Sigma Investments LP lessened its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 43.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 877,995 shares of the company's stock after selling 678,085 shares during the period. Two Sigma Investments LP owned approximately 0.29% of Zoom Video Communications worth $71,653,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Merit Financial Group LLC bought a new stake in Zoom Video Communications in the 4th quarter worth approximately $1,072,000. Swedbank AB raised its stake in shares of Zoom Video Communications by 96.3% during the fourth quarter. Swedbank AB now owns 82,247 shares of the company's stock worth $6,712,000 after acquiring an additional 40,351 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Zoom Video Communications by 8.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 93,872 shares of the company's stock valued at $7,868,000 after purchasing an additional 7,518 shares in the last quarter. Silver Lake Advisory LLC boosted its stake in shares of Zoom Video Communications by 13.3% in the 4th quarter. Silver Lake Advisory LLC now owns 40,325 shares of the company's stock valued at $3,291,000 after purchasing an additional 4,745 shares in the last quarter. Finally, Caprock Group LLC bought a new position in shares of Zoom Video Communications during the 4th quarter valued at $288,000. Institutional investors own 66.54% of the company's stock.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $78.82, for a total value of $195,079.50. Following the completion of the transaction, the director now directly owns 157,824 shares of the company's stock, valued at approximately $12,439,687.68. The trade was a 1.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Aparna Bawa sold 16,099 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the completion of the transaction, the chief operating officer now owns 1,978 shares in the company, valued at approximately $143,583.02. This represents a 89.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 164,515 shares of company stock valued at $12,132,994 in the last ninety days. 11.51% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on ZM. 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 research report on Wednesday, April 16th. Barclays lowered their target price 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. Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Citigroup lowered their price objective on Zoom Video Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a research report on Thursday, May 15th. Finally, Scotiabank increased their price objective on Zoom Video Communications from $75.00 to $85.00 and gave the company a "sector perform" rating in a research note on Friday. 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 data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $86.33.

Zoom Video Communications Stock Performance

Shares of ZM opened at $83.31 on Tuesday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm's 50-day simple moving average is $75.40 and its two-hundred day simple moving average is $79.66. The stock has a market cap of $25.43 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79.

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.

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