Two Sigma Advisers LP Trims Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Two Sigma Advisers LP reduced its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 26.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,071,800 shares of the company’s stock after selling 376,900 shares during the period. Two Sigma Advisers LP owned approximately 0.35% of Zoom Video Communications worth $87,470,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Adero Partners LLC grew its stake in shares of Zoom Video Communications by 2.4% in the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock worth $450,000 after acquiring an additional 129 shares during the last quarter. Principal Securities Inc. grew its stake in shares of Zoom Video Communications by 26.9% in the fourth quarter. Principal Securities Inc. now owns 783 shares of the company’s stock worth $64,000 after acquiring an additional 166 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Zoom Video Communications by 4.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company’s stock worth $330,000 after acquiring an additional 168 shares during the last quarter. Global X Japan Co. Ltd. boosted its position 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 valued at $28,000 after buying an additional 190 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its position in shares of Zoom Video Communications by 0.5% during the fourth quarter. Evergreen Capital Management LLC now owns 40,472 shares of the company’s stock valued at $3,303,000 after buying an additional 215 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Up 0.9%

ZM opened at $84.62 on Monday. The business has a fifty day moving average of $75.22 and a 200 day moving average of $79.61. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The stock has a market cap of $25.83 billion, a P/E ratio of 28.21, a PEG ratio of 5.48 and a beta of 0.79.

Analysts Set New Price Targets

ZM has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. 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 research report on Wednesday, February 26th. Scotiabank increased their price objective on Zoom Video Communications from $75.00 to $85.00 and gave the company a “sector perform” rating in a research report on Friday. Citigroup dropped their price objective on Zoom Video Communications from $85.00 to $84.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Wednesday, March 19th. Fifteen 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 MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $86.33.

Insider Activity at Zoom Video Communications

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

Zoom Video Communications 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.