Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lowered its position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 12.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 106,301 shares of the company's stock after selling 15,609 shares during the period. Lazard Asset Management LLC's holdings in Zoom Video Communications were worth $8,675,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global X Japan Co. Ltd. lifted its stake in Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock worth $28,000 after purchasing an additional 190 shares during the last quarter. Avior Wealth Management LLC increased 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 worth $29,000 after acquiring an additional 265 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of 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 purchasing an additional 258 shares in the last quarter. Colonial Trust Co SC bought a new stake in shares of Zoom Video Communications in the 4th quarter worth $32,000. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Zoom Video Communications in the 4th quarter worth $39,000. Institutional investors and hedge funds own 66.54% of the company's stock.

Zoom Video Communications Stock Up 0.9%

Zoom Video Communications stock traded up $0.77 during mid-day trading on Friday, reaching $84.62. 2,108,994 shares of the company's stock were exchanged, compared to its average volume of 3,009,462. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a fifty day moving average of $75.22 and a 200-day moving average of $79.54. The company has a market cap of $25.83 billion, a P/E ratio of 28.21, a P/E/G ratio of 5.48 and a beta of 0.79.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ZM shares. Barclays decreased their target price on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Cantor Fitzgerald reissued a "neutral" rating and set a $87.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Stifel Nicolaus lowered their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a research report on Tuesday, February 25th. Rosenblatt Securities reissued a "buy" rating and issued a $90.00 price objective on shares of Zoom Video Communications in a research report on Thursday, May 8th. Finally, Citigroup lowered their price objective on shares of Zoom Video Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a research report on Thursday. 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, Zoom Video Communications presently has an average rating of "Hold" and an average target price of $86.33.

Insider Buying and Selling

In other news, COO Aparna Bawa sold 16,099 shares of Zoom Video Communications stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $72.59, for a total value of $1,168,626.41. Following the sale, the chief operating officer now owns 1,978 shares of the company's stock, valued at $143,583.02. The trade was a 89.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 11,839 shares of Zoom Video Communications stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total transaction of $851,342.49. Following the completion of the sale, the insider now directly owns 125,529 shares in the company, valued at approximately $9,026,790.39. The trade was a 8.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,515 shares of company stock worth $12,132,994 in the last ninety days. 10.78% of the stock is owned by corporate insiders.

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.