Handelsbanken Fonder AB reduced its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 73.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,674 shares of the company’s stock after selling 67,442 shares during the period. Handelsbanken Fonder AB’s holdings in Zoom Video Communications were worth $1,671,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Global Wealth Management Investment Advisory Inc. grew its position in Zoom Video Communications by 63.3% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after acquiring an additional 114 shares during the last quarter. Neo Ivy Capital Management grew its holdings in shares of Zoom Video Communications by 56.8% in the second quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Bellecapital International Ltd. increased its stake in shares of Zoom Video Communications by 2.4% in the third quarter. Bellecapital International Ltd. now owns 6,404 shares of the company’s stock worth $471,000 after buying an additional 152 shares during the period. CNB Bank raised its holdings in Zoom Video Communications by 9.4% during the 3rd quarter. CNB Bank now owns 1,963 shares of the company’s stock valued at $144,000 after buying an additional 169 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd boosted its position in Zoom Video Communications by 22.8% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 921 shares of the company’s stock valued at $68,000 after buying an additional 171 shares during the period. 52.96% of the stock is owned by hedge funds and other institutional investors.
Zoom Video Communications Price Performance
ZM opened at $62.22 on Friday. The firm has a market cap of $18.28 billion, a PE ratio of 194.44, a P/E/G ratio of 3.28 and a beta of -0.22. The stock has a 50-day moving average price of $68.60 and a 200-day moving average price of $72.61. Zoom Video Communications, Inc. has a 1 year low of $60.45 and a 1 year high of $124.05.
Insider Activity at Zoom Video Communications
In related news, COO Aparna Bawa sold 14,000 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $70.93, for a total transaction of $993,020.00. Following the transaction, the chief operating officer now owns 76,777 shares in the company, valued at $5,445,792.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, COO Aparna Bawa sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $70.93, for a total transaction of $993,020.00. Following the completion of the sale, the chief operating officer now directly owns 76,777 shares in the company, valued at $5,445,792.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kelly Steckelberg sold 3,224 shares of the stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $78.60, for a total transaction of $253,406.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,893 shares of company stock valued at $7,164,112. 11.24% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several brokerages have recently commented on ZM. Mizuho reaffirmed a “buy” rating and set a $100.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 28th. Rosenblatt Securities assumed coverage on Zoom Video Communications in a research report on Thursday, March 23rd. They set a “neutral” rating and a $75.00 price target for the company. MKM Partners lowered Zoom Video Communications from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $100.00 to $75.00 in a research report on Monday, January 23rd. Citigroup upped their target price on Zoom Video Communications from $67.00 to $68.00 and gave the company a “sell” rating in a report on Wednesday, March 1st. Finally, Stifel Nicolaus cut their price target on shares of Zoom Video Communications to $75.00 in a report on Friday, March 3rd. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $91.25.
Zoom Video Communications Profile
Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.
Read More
- Get a free copy of the StockNews.com research report on Zoom Video Communications (ZM)
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