Gilder Gagnon Howe & Co. LLC Trims Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Gilder Gagnon Howe & Co. LLC cut its stake in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 1.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 421,903 shares of the company's stock after selling 7,110 shares during the period. Gilder Gagnon Howe & Co. LLC owned about 0.14% of Zoom Video Communications worth $34,432,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. grew its position in 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 acquiring an additional 190 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Zoom Video Communications by 277.4% during 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 during the period. Avior Wealth Management LLC boosted its position in Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after buying an additional 265 shares during the period. Geneos Wealth Management Inc. purchased a new stake in Zoom Video Communications during the fourth quarter valued at about $39,000. Finally, MRP Capital Investments LLC boosted its position in Zoom Video Communications by 500.0% during the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock valued at $49,000 after buying an additional 500 shares during the period. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on ZM shares. Barclays cut their price target on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Stifel Nicolaus decreased their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a research note on Tuesday, February 25th. Scotiabank cut their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating on the stock in a report on Monday, March 17th. Finally, Benchmark reissued a "buy" rating and issued a $97.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Fifteen equities 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.com, the company has a consensus rating of "Hold" and a consensus price target of $85.90.

Zoom Video Communications Price Performance

NASDAQ ZM traded down $0.01 during trading hours on Wednesday, hitting $77.54. 1,878,662 shares of the company's stock traded hands, compared to its average volume of 2,490,563. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The company has a market capitalization of $23.67 billion, a PE ratio of 25.85, a PEG ratio of 5.48 and a beta of 0.67. The firm's 50-day moving average is $73.90 and its 200-day moving average is $78.78.

Insider Activity at Zoom Video Communications

In other news, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $75.43, for a total transaction of $186,689.25. Following the completion of the sale, the director now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 245,372 shares of company stock worth $19,127,800. Insiders own 10.78% of the company's stock.

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.