Fox Run Management L.L.C. Sells 11,600 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Fox Run Management L.L.C. reduced its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 69.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,180 shares of the company’s stock after selling 11,600 shares during the quarter. Fox Run Management L.L.C.’s holdings in Zoom Video Communications were worth $423,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Adero Partners LLC grew its holdings in Zoom Video Communications by 2.4% during the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock valued at $450,000 after purchasing an additional 129 shares during the last quarter. Itau Unibanco Holding S.A. grew its stake in shares of Zoom Video Communications by 1.9% during the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after buying an additional 131 shares during the last quarter. MML Investors Services LLC grew its stake in shares of Zoom Video Communications by 1.4% during the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after buying an additional 132 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of Zoom Video Communications by 3.4% in the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after buying an additional 154 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Zoom Video Communications by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after acquiring an additional 164 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Performance

ZM stock opened at $78.13 on Wednesday. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The firm has a market cap of $23.85 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 5.48 and a beta of 0.26. The firm has a 50-day simple moving average of $79.95 and a two-hundred day simple moving average of $78.11.

Insider Buying and Selling

In other Zoom Video Communications news, COO Aparna Bawa sold 9,317 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the completion of the sale, the chief operating officer now owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. This trade represents a 39.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Velchamy Sankarlingam sold 10,817 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $851,189.73. Following the transaction, the insider now owns 117,760 shares in the company, 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 369,271 shares of company stock worth $29,496,892 in the last 90 days. 10.78% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ZM shares. Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Stifel Nicolaus reduced 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. UBS Group decreased their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Finally, Benchmark reiterated a “buy” rating and issued a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and a consensus price target of $89.33.

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.