OMERS ADMINISTRATION Corp Reduces Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

OMERS ADMINISTRATION Corp lessened its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 34.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,093 shares of the company's stock after selling 16,352 shares during the period. OMERS ADMINISTRATION Corp's holdings in Zoom Video Communications were worth $2,538,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Global X Japan Co. Ltd. lifted its position in shares of Zoom Video Communications by 127.5% in the 4th 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 period. Avior Wealth Management LLC increased its position in shares of 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. Parkside Financial Bank & Trust raised its stake 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 in the last quarter. Colonial Trust Co SC purchased a new stake in Zoom Video Communications in the fourth quarter worth about $32,000. Finally, Geneos Wealth Management Inc. bought a new stake in Zoom Video Communications during the 4th quarter valued at approximately $39,000. Institutional investors own 66.54% of the company's stock.

Zoom Video Communications Price Performance

NASDAQ ZM traded up $0.77 during mid-day trading on Friday, reaching $84.62. The stock had a trading volume of 2,108,994 shares, compared to its average volume of 3,009,462. The stock has a market cap of $25.83 billion, a PE ratio of 28.21, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The company has a fifty day moving average price of $75.22 and a 200 day moving average price of $79.57.

Insiders Place Their Bets

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 11,839 shares of the business's stock in a transaction on 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $78.82, for a total value of $195,079.50. Following the transaction, the director now directly owns 157,824 shares in the company, valued at $12,439,687.68. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,515 shares of company stock valued at $12,132,994. Corporate insiders own 10.78% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $95.00 target price on shares of Zoom Video Communications in a report on Wednesday, March 19th. UBS Group dropped their price target on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. Mizuho decreased their price objective 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. Citigroup lowered their price objective on Zoom Video Communications from $85.00 to $84.00 and set a "neutral" rating for the company in a research report on Thursday. Finally, Wells Fargo & Company reduced their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Zoom Video Communications currently has an average rating of "Hold" and an average target price of $86.33.

Zoom Video Communications Company 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.