Boothbay Fund Management LLC Decreases Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Boothbay Fund Management LLC cut its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 30.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,391 shares of the company’s stock after selling 8,585 shares during the quarter. Boothbay Fund Management LLC’s holdings in Zoom Video Communications were worth $1,582,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ZM. Global X Japan Co. Ltd. increased its position in 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. Avior Wealth Management LLC increased its holdings 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 worth $29,000 after buying an additional 265 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after buying an additional 258 shares during the period. Geneos Wealth Management Inc. acquired a new position in Zoom Video Communications in the fourth quarter valued at approximately $39,000. Finally, MRP Capital Investments LLC grew its position in Zoom Video Communications by 500.0% in the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock worth $49,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ZM has been the subject of a number of research analyst reports. Morgan Stanley lowered their price target on Zoom Video Communications from $96.00 to $73.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Mizuho lowered their target price on shares of Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company dropped their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $85.90.

Insider Buying and Selling

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of the firm’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $75.43, for a total transaction of $186,689.25. Following the transaction, the director now owns 160,299 shares of the company’s stock, valued at approximately $12,091,353.57. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 75,531 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. Insiders sold a total of 245,372 shares of company stock worth $19,127,800 over the last 90 days. 10.78% of the stock is owned by insiders.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM opened at $76.16 on Tuesday. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The company has a market capitalization of $23.25 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. The business has a 50-day moving average of $74.02 and a two-hundred day moving average of $78.79.

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.