Global Wealth Strategies & Associates Sells 1,962 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Global Wealth Strategies & Associates trimmed its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 35.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,500 shares of the company’s stock after selling 1,962 shares during the quarter. Global Wealth Strategies & Associates’ holdings in Zoom Video Communications were worth $286,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ZM. FMR LLC grew its stake in Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after buying an additional 2,395,396 shares during the last quarter. State Street Corp increased its stake in shares of Zoom Video Communications by 2.3% during the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after purchasing an additional 134,559 shares during the period. AQR Capital Management LLC lifted its holdings in Zoom Video Communications by 78.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after purchasing an additional 2,520,987 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Zoom Video Communications by 4.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,480,179 shares of the company’s stock valued at $382,188,000 after purchasing an additional 233,241 shares during the period. Finally, Acadian Asset Management LLC increased its position in Zoom Video Communications by 60.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after buying an additional 1,855,679 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Stock Performance

NASDAQ:ZM traded down $0.26 during trading on Thursday, reaching $81.35. The company’s stock had a trading volume of 897,949 shares, compared to its average volume of 3,302,336. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The firm has a market cap of $24.93 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 5.29 and a beta of -0.03. The firm has a 50 day moving average of $82.03 and a 200-day moving average of $69.86.

Wall Street Analyst Weigh In

Several research firms recently commented on ZM. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research note on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, October 11th. Mizuho raised their price objective on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Benchmark increased their target price on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Bank of America lifted their price target on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $87.10.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 37,206 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $68.20, for a total value of $2,537,449.20. Following the completion of the transaction, the chief executive officer now directly owns 114,341 shares of the company’s stock, valued at approximately $7,798,056.20. This trade represents a 24.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Shane Crehan sold 1,551 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $131,741.94. Following the sale, the chief accounting officer now directly owns 3,251 shares in the company, valued at $276,139.94. The trade was a 32.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 419,612 shares of company stock worth $31,763,516. 10.78% of the stock is owned by company insiders.

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.