National Pension Service Lowers Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

National Pension Service lowered its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 614,084 shares of the company’s stock after selling 41,143 shares during the period. National Pension Service owned 0.20% of Zoom Video Communications worth $50,115,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Global X Japan Co. Ltd. lifted its holdings in shares of Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after purchasing an additional 190 shares during the last quarter. Avior Wealth Management LLC lifted 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 valued at $29,000 after purchasing an additional 265 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Zoom Video Communications during the 4th quarter valued at $39,000. Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications during the 3rd quarter valued at $37,000. Finally, Allworth Financial LP lifted its holdings in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 83,332 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 3,618 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $307,312.92. Following the sale, the insider now owns 107,826 shares of the company’s stock, valued at $9,158,740.44. This represents a 3.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 382,242 shares of company stock valued at $31,230,938 in the last ninety days. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Price Performance

ZM opened at $72.88 on Friday. The company’s 50 day simple moving average is $82.54 and its two-hundred day simple moving average is $76.63. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The firm has a market capitalization of $22.34 billion and a price-to-earnings ratio of 24.29.

Analyst Upgrades and Downgrades

ZM has been the subject of several analyst reports. JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $70.00 to $115.00 in a report on Tuesday, November 26th. Citigroup cut their target price on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Piper Sandler upped their target price on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Stifel Nicolaus cut their target price on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday. Fifteen investment 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, the company has an average rating of “Hold” and a consensus target price of $90.05.

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.