Mitsubishi UFJ Trust & Banking Corp Reduces Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 10.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 356,935 shares of the company’s stock after selling 41,943 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.12% of Zoom Video Communications worth $29,129,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Global X Japan Co. Ltd. raised its holdings in shares of Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after purchasing an additional 190 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 258 shares during the period. Avior Wealth Management LLC raised its stake in shares of Zoom Video Communications by 291.2% during the 4th 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. Geneos Wealth Management Inc. acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at about $39,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications in the third quarter worth about $37,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Trading Down 0.4 %

Shares of ZM opened at $77.78 on Thursday. The firm has a 50-day moving average price of $79.90 and a 200 day moving average price of $78.10. 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 capitalization of $23.74 billion, a P/E ratio of 25.93, a P/E/G ratio of 5.48 and a beta of 0.26.

Insider Activity

In related news, CAO Shane Crehan sold 1,412 shares of the business’s 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 sale, the chief accounting officer now directly owns 5,404 shares in the company, valued at approximately $425,240.76. The trade was a 20.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 10,817 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $851,189.73. Following the transaction, the insider now directly owns 117,760 shares of the company’s stock, valued at approximately $9,266,534.40. This trade represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 371,746 shares of company stock valued at $29,689,595 in the last 90 days. Company insiders own 10.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ZM. Citigroup reduced their price target on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. UBS Group decreased their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Benchmark restated a “buy” rating and set a $97.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Scotiabank cut their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating for the company in a report on Monday, March 17th. Finally, Barclays cut their price objective on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Fifteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $89.33.

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.