Fort Washington Investment Advisors Inc. OH Lowers Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Fort Washington Investment Advisors Inc. OH lowered its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 5.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,070 shares of the company’s stock after selling 190 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Zoom Video Communications were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baker Avenue Asset Management LP raised its position in shares of Zoom Video Communications by 82.1% during the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after buying an additional 12,890 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Zoom Video Communications during the second quarter valued at approximately $763,000. HighTower Advisors LLC increased its position in Zoom Video Communications by 449.4% in the third quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after purchasing an additional 52,039 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Zoom Video Communications by 15.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after purchasing an additional 167,618 shares during the last quarter. Finally, Merit Financial Group LLC bought a new stake in Zoom Video Communications in the fourth quarter worth $1,072,000. Institutional investors own 66.54% of the company’s stock.

Insider Buying and Selling

In other Zoom Video Communications news, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Velchamy Sankarlingam sold 3,618 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $307,312.92. Following the completion of the transaction, the insider now owns 107,826 shares of the company’s stock, valued at $9,158,740.44. This represents a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 489,981 shares of company stock valued at $38,712,948 over the last three months. 10.78% of the stock is owned by company insiders.

Zoom Video Communications Trading Up 0.9 %

Shares of ZM opened at $80.01 on Friday. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The firm has a fifty day moving average price of $82.56 and a 200-day moving average price of $72.15. The firm has a market capitalization of $24.52 billion, a P/E ratio of 26.67, a P/E/G ratio of 4.94 and a beta of -0.01.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ZM. Piper Sandler boosted their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Barclays boosted their price target on shares of Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, January 10th. Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a research report on Friday, November 22nd. Sixteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and an average price target of $89.10.

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.