Sherbrooke Park Advisers LLC Sells 1,358 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Sherbrooke Park Advisers LLC reduced its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 24.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,229 shares of the company’s stock after selling 1,358 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in Zoom Video Communications were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC raised its position in shares of Zoom Video Communications by 14.4% in the fourth quarter. Rafferty Asset Management LLC now owns 25,058 shares of the company’s stock valued at $2,045,000 after purchasing an additional 3,155 shares during the period. Raiffeisen Bank International AG bought a new position in shares of Zoom Video Communications in the fourth quarter valued at about $30,000. Quantinno Capital Management LP raised its position in shares of Zoom Video Communications by 172.5% in the fourth quarter. Quantinno Capital Management LP now owns 154,883 shares of the company’s stock valued at $12,640,000 after purchasing an additional 98,048 shares during the period. Man Group plc raised its position in shares of Zoom Video Communications by 249.1% in the fourth quarter. Man Group plc now owns 341,005 shares of the company’s stock valued at $27,829,000 after purchasing an additional 243,326 shares during the period. Finally, Nissay Asset Management Corp Japan ADV raised its position in shares of Zoom Video Communications by 4.5% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 53,246 shares of the company’s stock valued at $4,463,000 after purchasing an additional 2,296 shares during the period. 66.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Mizuho decreased their price target on shares of Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company decreased their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus decreased their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday, February 25th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Finally, Scotiabank upped their price target on shares of Zoom Video Communications from $75.00 to $85.00 and gave the company a “sector perform” rating in a research note on Friday. Fifteen equities research 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $86.33.

Zoom Video Communications Trading Up 0.9%

ZM stock opened at $84.62 on Monday. The stock has a market capitalization of $25.83 billion, a P/E ratio of 28.21, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The firm has a 50-day moving average price of $75.22 and a 200-day moving average price of $79.61.

Insider Transactions at Zoom Video Communications

In other news, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $78.82, for a total value of $195,079.50. Following the completion of the transaction, the director now owns 157,824 shares of the company’s stock, valued at approximately $12,439,687.68. This represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Velchamy Sankarlingam sold 11,839 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49. Following the completion of the transaction, the insider now directly owns 125,529 shares of the company’s stock, valued at $9,026,790.39. This trade represents a 8.62% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 164,515 shares of company stock valued at $12,132,994. 11.51% of the stock is currently owned by insiders.

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.