Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Boston Partners

Boston Partners lowered its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 28.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,424 shares of the company’s stock after selling 2,496 shares during the quarter. Boston Partners’ holdings in Zoom Video Communications were worth $524,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ZM. FMR LLC increased its position in shares of Zoom Video Communications by 23.8% in the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after acquiring an additional 2,395,396 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Zoom Video Communications during the 4th quarter valued at $99,471,000. Assenagon Asset Management S.A. grew its holdings in Zoom Video Communications by 126.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock valued at $102,119,000 after purchasing an additional 699,625 shares in the last quarter. Nordea Investment Management AB grew its holdings in Zoom Video Communications by 202.8% during the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock valued at $64,054,000 after purchasing an additional 521,778 shares in the last quarter. Finally, Retirement Systems of Alabama grew its holdings in Zoom Video Communications by 48.1% during the 3rd quarter. Retirement Systems of Alabama now owns 903,797 shares of the company’s stock valued at $63,031,000 after purchasing an additional 293,375 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ZM. Scotiabank lowered 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. Wells Fargo & Company raised shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Mizuho raised their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Sanford C. Bernstein raised their price target on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a report on Tuesday, November 26th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $89.33.

Zoom Video Communications Stock Performance

Zoom Video Communications stock opened at $75.97 on Friday. The company has a market cap of $23.19 billion, a P/E ratio of 25.32, a PEG ratio of 5.48 and a beta of 0.26. The firm’s 50-day moving average is $79.98 and its 200-day moving average is $77.88. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 33,751 shares of Zoom Video Communications stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total value of $2,655,866.19. Following the sale, the chief executive officer now directly owns 34,703 shares in the company, valued at $2,730,779.07. This trade represents a 49.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Shane Crehan sold 1,412 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $111,110.28. Following the transaction, the chief accounting officer now directly owns 5,404 shares in the company, valued at approximately $425,240.76. The trade was a 20.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 369,271 shares of company stock worth $29,496,892 in the last ninety days. 10.78% of the stock is owned by insiders.

Zoom Video Communications 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.