Blair William & Co. IL Cuts Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Blair William & Co. IL lessened its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 26.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 89,552 shares of the company’s stock after selling 31,806 shares during the period. Blair William & Co. IL’s holdings in Zoom Video Communications were worth $7,308,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Adero Partners LLC increased its holdings in shares of Zoom Video Communications by 2.4% in the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock valued at $450,000 after purchasing an additional 129 shares in the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after acquiring an additional 131 shares during the period. MML Investors Services LLC boosted its stake in shares of Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after acquiring an additional 132 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after acquiring an additional 154 shares during the period. Finally, GAMMA Investing LLC increased its stake in Zoom Video Communications by 27.1% in the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock valued at $63,000 after purchasing an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Down 2.5 %

NASDAQ:ZM opened at $74.84 on Friday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm’s 50 day moving average is $79.78 and its two-hundred day moving average is $78.23. The company has a market cap of $22.84 billion, a P/E ratio of 24.95, a P/E/G ratio of 5.48 and a beta of 0.26.

Insider Buying and Selling

In other news, CAO Shane Crehan sold 1,412 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the completion of the sale, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at $425,240.76. This represents a 20.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 75,531 shares of Zoom Video Communications stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 371,746 shares of company stock valued at $29,689,595. 10.78% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Morgan Stanley upped their target price on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Jefferies Financial Group upgraded shares of Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Finally, UBS Group cut their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $89.33.

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.