Healthcare of Ontario Pension Plan Trust Fund Lowers Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 84.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 24,700 shares of the company’s stock after selling 135,300 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Zoom Video Communications were worth $1,723,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new stake in Zoom Video Communications in the second quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Zoom Video Communications in the second quarter valued at approximately $36,000. Truvestments Capital LLC acquired a new position in Zoom Video Communications during the third quarter worth $37,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Zoom Video Communications in the second quarter worth $41,000. Finally, Allworth Financial LP lifted its holdings in Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after acquiring an additional 180 shares during the period. 66.54% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 178,571 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total transaction of $13,733,895.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Aparna Bawa sold 880 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total transaction of $59,919.20. Following the sale, the chief operating officer now directly owns 2,809 shares of the company’s stock, valued at approximately $191,264.81. This trade represents a 23.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 367,108 shares of company stock valued at $26,796,191. Insiders own 10.78% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on ZM shares. Robert W. Baird reduced their price objective on shares of Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, August 22nd. JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Piper Sandler raised their price objective on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Stifel Nicolaus lifted their price objective on Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Finally, Bank of America upped their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and a consensus target price of $85.19.

Zoom Video Communications Stock Down 3.1 %

ZM stock opened at $82.69 on Monday. The stock has a market capitalization of $25.45 billion, a price-to-earnings ratio of 27.56, a price-to-earnings-growth ratio of 5.51 and a beta of -0.05. The stock’s fifty day simple moving average is $75.22 and its 200-day simple moving average is $66.33. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

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.