Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Amundi

Amundi trimmed its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 34.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 926,223 shares of the company’s stock after selling 493,007 shares during the period. Amundi’s holdings in Zoom Video Communications were worth $74,005,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. US Bancorp DE grew its holdings in shares of Zoom Video Communications by 33.5% during the third quarter. US Bancorp DE now owns 2,983 shares of the company’s stock valued at $208,000 after buying an additional 749 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Zoom Video Communications by 17.7% during the third quarter. Janney Montgomery Scott LLC now owns 18,595 shares of the company’s stock valued at $1,297,000 after buying an additional 2,800 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Zoom Video Communications by 1.9% during the third quarter. Amalgamated Bank now owns 13,912 shares of the company’s stock valued at $970,000 after buying an additional 257 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Zoom Video Communications during the third quarter valued at $203,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Zoom Video Communications by 56.0% during the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after buying an additional 274 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Eric S. Yuan sold 118,036 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $79.03, for a total transaction of $9,328,385.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Aparna Bawa sold 9,317 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the transaction, the chief operating officer now directly owns 14,053 shares of the company’s stock, valued at $1,105,830.57. This represents a 39.87 % decrease in their position. 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 quarter. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $73.15 on Wednesday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The business has a 50-day moving average of $80.95 and a two-hundred day moving average of $77.67. The stock has a market capitalization of $22.42 billion, a P/E ratio of 24.38, a P/E/G ratio of 5.48 and a beta of 0.26.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. 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 report on Tuesday, November 26th. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and a consensus target price of $90.05.

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.