Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC decreased its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 68.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,167 shares of the company's stock after selling 117,678 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Zoom Video Communications were worth $4,502,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Global X Japan Co. Ltd. increased its holdings in Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after acquiring an additional 190 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 valued at $29,000 after buying an additional 258 shares during the period. Avior Wealth Management LLC lifted its stake in shares of Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Zoom Video Communications during the fourth quarter valued at about $30,000. Finally, Colonial Trust Co SC acquired a new position in Zoom Video Communications during the fourth quarter worth $32,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZM has been the topic of a number of research reports. Stifel Nicolaus reduced their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a report on Tuesday, February 25th. Royal Bank of Canada restated an "outperform" rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Benchmark reaffirmed a "buy" rating and set a $97.00 price target on shares of Zoom Video Communications in a research report on Tuesday. Barclays dropped their price target on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Finally, Morgan Stanley lowered their target price on shares of Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $86.33.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 75,531 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction on 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 owns 157,824 shares of the company's stock, valued at $12,439,687.68. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,515 shares of company stock worth $12,132,994. 11.51% of the stock is owned by corporate insiders.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $82.27 on Thursday. The business has a 50 day moving average price of $75.78 and a 200 day moving average price of $79.70. The company has a market capitalization of $25.11 billion, a P/E ratio of 27.42, a P/E/G ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80.

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.

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