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

Vanguard Group Inc. lessened its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,171,791 shares of the company’s stock after selling 97,802 shares during the quarter. Vanguard Group Inc. owned approximately 0.08% of Zoom Video Communications worth $1,972,660,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. HighTower Advisors LLC increased its holdings in Zoom Video Communications by 449.4% in the third quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after purchasing an additional 52,039 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Zoom Video Communications in the 4th quarter valued at about $1,072,000. State Street Corp increased its stake in shares of Zoom Video Communications by 2.3% in the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after acquiring an additional 134,559 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Zoom Video Communications by 202.8% in the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock valued at $64,054,000 after acquiring an additional 521,778 shares during the period. Finally, Tri Ri Asset Management Corp bought a new position in Zoom Video Communications during the 3rd quarter worth approximately $2,676,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

Zoom Video Communications stock opened at $77.78 on Thursday. The company has a market cap of $23.74 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 5.48 and a beta of 0.26. The firm has a 50-day moving average of $79.90 and a 200-day moving average of $78.10. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

Insider Buying and Selling

In related news, CEO Eric S. Yuan sold 33,751 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 34,703 shares in the company, valued at approximately $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 accessible through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $77.86, for a total value of $192,703.50. Following the transaction, the director now directly owns 169,452 shares in the company, valued at approximately $13,193,532.72. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 371,746 shares of company stock worth $29,689,595. Corporate insiders own 10.78% of the company’s stock.

Analyst Upgrades and Downgrades

ZM has been the subject of several recent analyst reports. UBS Group lowered 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. Benchmark restated a “buy” rating and issued a $97.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a report on Wednesday, March 19th. Stifel Nicolaus lowered their price target on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a report on Tuesday, February 25th. Finally, Citigroup cut their price objective on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Fifteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $89.33.

Zoom Video Communications Company 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.