HighTower Advisors LLC Sells 4,274 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

HighTower Advisors LLC decreased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,344 shares of the company’s stock after selling 4,274 shares during the quarter. HighTower Advisors LLC’s holdings in Zoom Video Communications were worth $4,843,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc grew its holdings in Zoom Video Communications by 5.4% during the third quarter. CIBC Asset Management Inc now owns 9,108 shares of the company’s stock valued at $635,000 after purchasing an additional 467 shares during the period. Claro Advisors LLC bought a new position in shares of Zoom Video Communications during the 3rd quarter valued at approximately $276,000. Swiss National Bank increased its holdings in Zoom Video Communications by 1.3% in the 3rd quarter. Swiss National Bank now owns 743,300 shares of the company’s stock worth $51,838,000 after acquiring an additional 9,400 shares in the last quarter. Quest Partners LLC raised its stake in Zoom Video Communications by 28.2% during the 3rd quarter. Quest Partners LLC now owns 9,214 shares of the company’s stock worth $643,000 after acquiring an additional 2,029 shares during the period. Finally, Banque Cantonale Vaudoise lifted its holdings in Zoom Video Communications by 22.2% during the third quarter. Banque Cantonale Vaudoise now owns 5,253 shares of the company’s stock valued at $366,000 after purchasing an additional 956 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Velchamy Sankarlingam sold 10,817 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $851,189.73. Following the sale, the insider now directly owns 117,760 shares of the company’s stock, valued at $9,266,534.40. This represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 369,271 shares of company stock valued at $29,496,892 over the last three months. 10.78% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on ZM. Sanford C. Bernstein raised their price objective on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research report on Tuesday, November 26th. Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Stifel Nicolaus lowered their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. Morgan Stanley increased their target price on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Finally, Citigroup lowered their price target 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 analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus price target of $89.33.

Zoom Video Communications Price Performance

NASDAQ:ZM opened at $76.26 on Thursday. The firm has a market capitalization of $23.28 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 5.48 and a beta of 0.26. The business has a 50 day simple moving average of $80.13 and a 200-day simple moving average of $77.79. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80.

Zoom Video Communications 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.