Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP reduced its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 52.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 289,926 shares of the company's stock after selling 321,793 shares during the quarter. Zoom Video Communications comprises about 1.1% of Invenomic Capital Management LP's portfolio, making the stock its 18th biggest position. Invenomic Capital Management LP owned approximately 0.09% of Zoom Video Communications worth $23,661,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in Zoom Video Communications by 53.6% during the 3rd quarter. Franklin Resources Inc. now owns 331,782 shares of the company's stock worth $22,537,000 after purchasing an additional 115,837 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Zoom Video Communications by 27.1% in the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company's stock valued at $63,000 after acquiring an additional 164 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Zoom Video Communications by 0.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 74,890 shares of the company's stock valued at $6,112,000 after acquiring an additional 398 shares in the last quarter. Wedmont Private Capital grew its holdings in shares of Zoom Video Communications by 12.5% in the fourth quarter. Wedmont Private Capital now owns 3,350 shares of the company's stock valued at $266,000 after acquiring an additional 371 shares in the last quarter. Finally, Wynn Capital LLC grew its holdings in shares of Zoom Video Communications by 2.0% in the fourth quarter. Wynn Capital LLC now owns 10,034 shares of the company's stock valued at $819,000 after acquiring an additional 200 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZM has been the subject of several recent analyst reports. Mizuho reduced 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 decreased their target price on Zoom Video Communications from $85.00 to $75.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Rosenblatt Securities restated a "buy" rating and set a $90.00 target price on shares of Zoom Video Communications in a research report on Thursday, May 8th. Morgan Stanley dropped their target price on Zoom Video Communications from $96.00 to $73.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, Citigroup dropped their target price on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 18th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $85.90.

Insider Transactions at Zoom Video Communications

In other news, Director Santiago Subotovsky sold 2,475 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the sale, the director now directly owns 169,452 shares in the company, valued at approximately $13,193,532.72. This represents a 1.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction dated Tuesday, March 4th. The stock was 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. Insiders sold 164,515 shares of company stock worth $12,132,994 in the last three months. Corporate insiders own 10.78% of the company's stock.

Zoom Video Communications Price Performance

NASDAQ ZM traded up $0.09 during mid-day trading on Wednesday, reaching $83.27. The stock had a trading volume of 390,755 shares, compared to its average volume of 3,008,440. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The stock has a market cap of $25.42 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. The company has a fifty day moving average price of $74.63 and a 200 day moving average price of $79.38.

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.