Diversified Trust Co Cuts Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Diversified Trust Co cut its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 36.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 22,100 shares of the company’s stock after selling 12,492 shares during the quarter. Diversified Trust Co’s holdings in Zoom Video Communications were worth $1,804,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZM. Nordea Investment Management AB increased its position in shares of Zoom Video Communications by 202.8% during the fourth 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 in the last quarter. Everence Capital Management Inc. bought a new stake in shares of Zoom Video Communications in the 4th quarter worth $346,000. GAMMA Investing LLC raised its stake in shares of Zoom Video Communications by 27.1% in the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after purchasing an additional 164 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Zoom Video Communications by 53.0% during the fourth quarter. Versant Capital Management Inc now owns 1,509 shares of the company’s stock valued at $123,000 after purchasing an additional 523 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in shares of Zoom Video Communications by 48.1% during the third quarter. Retirement Systems of Alabama now owns 903,797 shares of the company’s stock valued at $63,031,000 after buying an additional 293,375 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

ZM stock opened at $79.90 on Thursday. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The business has a 50 day simple moving average of $82.78 and a two-hundred day simple moving average of $70.70. The company has a market capitalization of $24.49 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 5.29 and a beta of -0.01.

Analyst Ratings Changes

ZM has been the topic of several research analyst reports. Piper Sandler upped their target price on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $70.00 to $115.00 in a report on Tuesday, November 26th. JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $70.00 to $85.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $87.81.

Insider Buying and Selling

In related news, CEO Eric S. Yuan sold 178,571 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Chadwick sold 12,500 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $68.36, for a total transaction of $854,500.00. Following the completion of the sale, the director now owns 1,514 shares in the company, valued at $103,497.04. This represents a 89.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 338,315 shares of company stock worth $26,197,660. 10.78% of the stock is owned by insiders.

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.