Zoom Video Communications, Inc. (NASDAQ:ZM) Stock Holdings Reduced by Kerrisdale Advisers LLC

Kerrisdale Advisers LLC lessened its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 44.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,089 shares of the company's stock after selling 40,145 shares during the period. Zoom Video Communications accounts for approximately 1.4% of Kerrisdale Advisers LLC's holdings, making the stock its 19th biggest position. Kerrisdale Advisers LLC's holdings in Zoom Video Communications were worth $4,088,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. FMR LLC boosted its position in Zoom Video Communications by 2.3% during the 4th quarter. FMR LLC now owns 12,727,532 shares of the company's stock valued at $1,038,694,000 after purchasing an additional 282,645 shares during the period. Norges Bank acquired a new position in Zoom Video Communications during the 4th quarter valued at approximately $751,908,000. T. Rowe Price Investment Management Inc. boosted its position in Zoom Video Communications by 24.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company's stock valued at $521,123,000 after purchasing an additional 1,247,717 shares during the period. Geode Capital Management LLC boosted its position in Zoom Video Communications by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,624,160 shares of the company's stock valued at $377,429,000 after purchasing an additional 28,725 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Zoom Video Communications by 9.7% during the 4th quarter. Renaissance Technologies LLC now owns 4,304,848 shares of the company's stock valued at $351,319,000 after purchasing an additional 380,900 shares during the period. Institutional investors own 66.54% of the company's stock.

Insider Transactions at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 11,839 shares of Zoom Video Communications stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49. Following the transaction, the insider now owns 125,529 shares in the company, valued at approximately $9,026,790.39. The trade was a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The disclosure for this sale can be found here. Insiders have sold 245,372 shares of company stock valued at $19,127,800 over the last three months. Company insiders own 10.78% of the company's stock.

Zoom Video Communications Trading Up 1.3 %

Shares of Zoom Video Communications stock traded up $0.98 on Tuesday, reaching $77.14. 467,877 shares of the company were exchanged, compared to its average volume of 3,039,222. The stock has a fifty day moving average price of $74.02 and a 200-day moving average price of $78.79. The firm has a market capitalization of $23.54 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Analyst Ratings Changes

A number of research analysts recently issued reports on ZM shares. Barclays reduced their price objective on Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. UBS Group cut their target price on 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. Wells Fargo & Company cut their target price on Zoom Video Communications from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Scotiabank cut their target price on Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating on the stock in a research note on Monday, March 17th. Finally, Stifel Nicolaus cut their target price on Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a research note on Tuesday, February 25th. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Zoom Video Communications currently has an average rating of "Hold" and an average target price of $85.90.

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.