Hillsdale Investment Management Inc. Cuts Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Hillsdale Investment Management Inc. reduced its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,870 shares of the company’s stock after selling 500 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Zoom Video Communications were worth $805,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. raised its position in Zoom Video Communications by 10.3% during the fourth quarter. American Century Companies Inc. now owns 259,176 shares of the company’s stock worth $21,151,000 after acquiring an additional 24,261 shares during the period. Sciencast Management LP purchased a new stake in shares of Zoom Video Communications during the fourth quarter worth about $1,512,000. MRP Capital Investments LLC lifted its stake in Zoom Video Communications by 500.0% in the 4th quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock valued at $49,000 after buying an additional 500 shares in the last quarter. DCF Advisers LLC boosted its holdings in Zoom Video Communications by 28.6% in the 4th quarter. DCF Advisers LLC now owns 22,500 shares of the company’s stock worth $1,836,000 after buying an additional 5,000 shares during the last quarter. Finally, Contrarius Group Holdings Ltd acquired a new stake in Zoom Video Communications in the 4th quarter worth about $72,854,000. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ZM shares. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Citigroup cut their price objective on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and a consensus price target of $89.33.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction dated 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 filing with the SEC, which is accessible through this hyperlink. Also, CAO Shane Crehan sold 1,412 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the completion of the transaction, the chief accounting officer now owns 5,404 shares in the company, valued at approximately $425,240.76. The trade was a 20.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 369,271 shares of company stock valued at $29,496,892. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Price Performance

ZM opened at $75.97 on Monday. The business has a fifty day moving average price of $79.98 and a 200 day moving average price of $77.95. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The stock has a market capitalization of $23.19 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 5.48 and a beta of 0.26.

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.