BI Asset Management Fondsmaeglerselskab A S Decreases Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 81.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,790 shares of the company's stock after selling 76,089 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Zoom Video Communications were worth $1,370,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Global X Japan Co. Ltd. grew its stake 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 worth $28,000 after acquiring an additional 190 shares during the period. Parkside Financial Bank & Trust boosted its position in Zoom Video Communications by 277.4% during 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 during the period. Avior Wealth Management LLC increased its stake in shares of Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company's stock worth $29,000 after purchasing an additional 265 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Zoom Video Communications in the fourth quarter valued at approximately $39,000. Finally, MRP Capital Investments LLC lifted its stake in shares of Zoom Video Communications by 500.0% during the 4th quarter. MRP Capital Investments LLC now owns 600 shares of the company's stock valued at $49,000 after buying an additional 500 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 16,099 shares of the company's 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 in the company, valued at approximately $143,583.02. This represents a 89.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric S. Yuan sold 83,332 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. Insiders have sold 242,897 shares of company stock worth $18,941,111 over the last 90 days. 10.78% of the stock is owned by company insiders.

Zoom Video Communications Price Performance

Zoom Video Communications stock traded down $0.05 during mid-day trading on Monday, reaching $75.99. 274,604 shares of the company traded hands, compared to its average volume of 3,042,923. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The firm has a market capitalization of $23.19 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 5.48 and a beta of 0.67. The firm's 50 day moving average price is $74.20 and its 200 day moving average price is $78.75.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $87.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Scotiabank cut their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating for the company in a report on Monday, March 17th. UBS Group decreased their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Finally, Stifel Nicolaus dropped their price objective on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating for the company in a research note on Tuesday, February 25th. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $85.90.

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.