Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC lowered its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 54.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,009 shares of the company's stock after selling 8,240 shares during the period. Guggenheim Capital LLC's holdings in Zoom Video Communications were worth $572,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in Zoom Video Communications by 2.3% in the 4th quarter. FMR LLC now owns 12,727,532 shares of the company's stock valued at $1,038,694,000 after buying an additional 282,645 shares during the period. Norges Bank purchased a new stake in shares of Zoom Video Communications in the 4th quarter valued at approximately $751,908,000. Geode Capital Management LLC lifted its holdings in shares of Zoom Video Communications by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock worth $377,429,000 after acquiring an additional 28,725 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Zoom Video Communications by 9.7% in the 4th quarter. Renaissance Technologies LLC now owns 4,304,848 shares of the company's stock valued at $351,319,000 after purchasing an additional 380,900 shares during the last quarter. Finally, FIL Ltd increased its holdings in Zoom Video Communications by 3.7% in the 4th quarter. FIL Ltd now owns 3,012,007 shares of the company's stock valued at $245,810,000 after purchasing an additional 108,075 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Rosenblatt Securities lowered their price target on Zoom Video Communications from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Mizuho lowered their target price on Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company cut their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Citigroup lowered their price objective on shares of Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 18th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $87.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $85.90.

Zoom Video Communications Trading Up 0.6 %

Shares of NASDAQ ZM traded up $0.48 during mid-day trading on Thursday, reaching $78.02. The company had a trading volume of 526,068 shares, compared to its average volume of 3,032,138. The firm has a 50 day simple moving average of $73.80 and a two-hundred day simple moving average of $78.77. The stock has a market cap of $23.81 billion, a P/E ratio of 26.05, a PEG ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 11,839 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total value of $851,342.49. Following the transaction, the insider now directly owns 125,529 shares in the company, valued at approximately $9,026,790.39. This trade represents a 8.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 83,332 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The disclosure for this sale can be found here. Insiders sold a total of 245,372 shares of company stock valued at $19,127,800 in the last three months. 10.78% of the stock is currently owned by company insiders.

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.