Point72 Hong Kong Ltd lessened its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 85.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,909 shares of the company's stock after selling 42,086 shares during the quarter. Point72 Hong Kong Ltd's holdings in Zoom Video Communications were worth $564,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in ZM. Global X Japan Co. Ltd. lifted its holdings in shares of 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 buying an additional 190 shares during the last quarter. Avior Wealth Management LLC lifted 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 valued at $29,000 after purchasing an additional 265 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings 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 purchasing an additional 258 shares in the last quarter. Colonial Trust Co SC acquired a new position in Zoom Video Communications during the fourth quarter worth $32,000. Finally, Geneos Wealth Management Inc. acquired a new position in Zoom Video Communications during the fourth quarter worth $39,000. Institutional investors and hedge funds own 66.54% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on ZM. Needham & Company LLC reissued a "hold" rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Cantor Fitzgerald reiterated a "neutral" rating and set a $87.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Royal Bank of Canada restated an "outperform" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Wednesday, March 19th. UBS Group lowered their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Finally, Mizuho dropped their target price on shares of Zoom Video Communications from $105.00 to $71.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. 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 stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $86.33.
Read Our Latest Stock Report on ZM
Zoom Video Communications Price Performance
Shares of Zoom Video Communications stock traded down $0.83 during trading on Wednesday, hitting $82.27. 4,555,268 shares of the company's stock traded hands, compared to its average volume of 2,453,622. The company has a market cap of $25.11 billion, a PE ratio of 27.42, a PEG ratio of 5.48 and a beta of 0.79. The firm's fifty day moving average price is $75.62 and its 200 day moving average price is $79.69. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.
Insiders Place Their Bets
In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of Zoom Video Communications stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $78.82, for a total transaction of $195,079.50. Following the completion of the sale, the director now owns 157,824 shares in the company, valued at $12,439,687.68. This represents a 1.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,515 shares of company stock worth $12,132,994 over the last quarter. Company insiders own 11.51% of the company's stock.
Zoom Video Communications Company Profile
(
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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