Maryland State Retirement & Pension System Reduces Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Maryland State Retirement & Pension System lessened its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,078 shares of the company’s stock after selling 1,122 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Zoom Video Communications were worth $1,149,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Global X Japan Co. Ltd. increased its holdings in Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after buying an additional 190 shares during the last quarter. Avior Wealth Management LLC increased its holdings in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after buying an additional 265 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after buying an additional 258 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Zoom Video Communications during the third quarter worth about $37,000. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Zoom Video Communications during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Activity at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,412 shares of Zoom Video Communications stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $111,110.28. Following the completion of the sale, the chief accounting officer now directly owns 5,404 shares in the company, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. Insiders sold a total of 369,271 shares of company stock worth $29,496,892 over the last 90 days. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Down 0.1 %

Shares of NASDAQ:ZM opened at $75.97 on Friday. The company has a market cap of $23.19 billion, a P/E ratio of 25.32, a PEG ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The company has a 50-day moving average price of $79.98 and a 200 day moving average price of $77.88.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ZM shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Barclays dropped their price objective on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $95.00 price objective on shares of Zoom Video Communications in a report on Wednesday. Finally, Mizuho increased their target price on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $89.33.

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.