Zoom Video Communications, Inc. (NASDAQ:ZM) Stock Holdings Lessened by International Assets Investment Management LLC

International Assets Investment Management LLC cut its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 99.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,889 shares of the company’s stock after selling 495,077 shares during the quarter. International Assets Investment Management LLC’s holdings in Zoom Video Communications were worth $399,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baker Avenue Asset Management LP raised its holdings in shares of Zoom Video Communications by 82.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after purchasing an additional 12,890 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Zoom Video Communications during the second quarter valued at about $763,000. HighTower Advisors LLC lifted its position in shares of 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 buying an additional 52,039 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Zoom Video Communications by 15.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock valued at $87,713,000 after acquiring an additional 167,618 shares during the last quarter. Finally, National Pension Service raised its stake in shares of Zoom Video Communications by 30.1% in the 3rd quarter. National Pension Service now owns 655,227 shares of the company’s stock valued at $45,696,000 after acquiring an additional 151,728 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Down 0.6 %

NASDAQ:ZM opened at $79.46 on Friday. The firm has a market capitalization of $24.35 billion, a P/E ratio of 26.49, a P/E/G ratio of 5.29 and a beta of -0.01. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The stock’s fifty day simple moving average is $82.96 and its 200-day simple moving average is $71.01.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price target on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. UBS Group upped their price target on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Wedbush began coverage on shares of Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 target price for the company. Finally, JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. One investment 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $87.81.

Insider Transactions at Zoom Video Communications

In other news, COO Aparna Bawa sold 10,520 shares of Zoom Video Communications stock in a transaction on Monday, October 14th. The stock was sold at an average price of $68.59, for a total value of $721,566.80. Following the transaction, the chief operating officer now owns 1,978 shares in the company, valued at approximately $135,671.02. This trade represents a 84.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Shane Crehan sold 1,551 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the transaction, the chief accounting officer now directly owns 3,251 shares of the company’s stock, valued at approximately $276,139.94. The trade was a 32.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 381,383 shares of company stock valued at $29,586,681 over the last quarter. Corporate insiders own 10.78% of the company’s stock.

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.