MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 20.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 224,685 shares of the company's stock after selling 56,101 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.07% of Zoom Video Communications worth $18,400,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Global X Japan Co. Ltd. increased its stake in Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company's stock valued at $28,000 after purchasing an additional 190 shares in the last quarter. Avior Wealth Management LLC boosted its stake in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company's stock worth $29,000 after buying an additional 258 shares during the last quarter. Colonial Trust Co SC bought a new position in shares of Zoom Video Communications during the 4th quarter worth $32,000. Finally, Geneos Wealth Management Inc. purchased a new stake in Zoom Video Communications in the 4th quarter worth about $39,000. 66.54% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 11,839 shares of the firm's 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 sale, the insider now directly owns 125,529 shares of the company's stock, valued at approximately $9,026,790.39. This trade represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 75,531 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,515 shares of company stock worth $12,132,994. Corporate insiders own 10.78% of the company's stock.
Wall Street Analyst Weigh In
ZM has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Wells Fargo & Company reduced 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. Benchmark reissued a "buy" rating and issued a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. UBS Group cut their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Finally, Barclays cut their price objective 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. Fifteen investment 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 MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $86.33.
Read Our Latest Stock Analysis on ZM
Zoom Video Communications Stock Up 0.9%
Shares of ZM traded up $0.77 during mid-day trading on Friday, reaching $84.62. The company had a trading volume of 2,108,994 shares, compared to its average volume of 3,009,462. The stock has a 50 day moving average of $75.22 and a two-hundred day moving average of $79.57. The stock has a market capitalization of $25.83 billion, a P/E ratio of 28.21, a PEG ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.
About Zoom Video Communications
(
Free Report)
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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