Vanguard Group Inc. Sells 97,802 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Vanguard Group Inc. lowered its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,171,791 shares of the company’s stock after selling 97,802 shares during the quarter. Vanguard Group Inc. owned about 7.89% of Zoom Video Communications worth $1,972,660,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Global X Japan Co. Ltd. grew its position in shares of Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after purchasing an additional 190 shares during the last quarter. Avior Wealth Management LLC grew its holdings in 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 buying an additional 265 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after buying an additional 258 shares during the period. Truvestments Capital LLC acquired a new position in shares of Zoom Video Communications during the third quarter worth approximately $37,000. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Zoom Video Communications in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Cantor Fitzgerald restated a “neutral” rating and set a $87.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. UBS Group reduced their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Scotiabank decreased 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 report on Monday, March 17th. Finally, Morgan Stanley upped their price target 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. Fifteen research 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $89.33.

Insider Activity

In other news, insider Velchamy Sankarlingam sold 10,817 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $851,189.73. Following the sale, the insider now directly owns 117,760 shares of the company’s stock, valued at $9,266,534.40. This represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric S. Yuan sold 83,332 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was 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. Over the last 90 days, insiders sold 371,746 shares of company stock worth $29,689,595. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Down 0.4 %

NASDAQ:ZM opened at $77.78 on Thursday. The firm has a market cap of $23.74 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The company’s 50-day moving average price is $79.90 and its two-hundred day moving average price is $78.10.

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.