Intellectus Partners LLC Sells 1,650 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Intellectus Partners LLC lowered its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 16.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,260 shares of the company’s stock after selling 1,650 shares during the period. Intellectus Partners LLC’s holdings in Zoom Video Communications were worth $674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings 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 valued at $330,000 after purchasing an additional 168 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Zoom Video Communications in the fourth quarter valued at $826,000. Jackson Creek Investment Advisors LLC grew its holdings in shares of Zoom Video Communications by 10.3% in the fourth quarter. Jackson Creek Investment Advisors LLC now owns 5,435 shares of the company’s stock valued at $444,000 after purchasing an additional 508 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its holdings in shares of Zoom Video Communications by 10.9% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 6,624 shares of the company’s stock valued at $541,000 after purchasing an additional 651 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. purchased a new position in shares of Zoom Video Communications in the fourth quarter valued at $1,999,000. Institutional investors own 66.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on ZM shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Morgan Stanley lifted their price objective on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group lifted their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $70.00 to $115.00 in a research note on Tuesday, November 26th. Finally, Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $90.05.

Zoom Video Communications Price Performance

ZM stock opened at $75.98 on Friday. The business has a 50-day moving average price of $81.31 and a 200 day moving average price of $77.49. The company has a market capitalization of $23.29 billion, a P/E ratio of 25.33, a PEG ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 118,036 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $79.03, for a total value of $9,328,385.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Shane Crehan sold 1,412 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $111,110.28. Following the completion of the transaction, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at $425,240.76. This represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 374,440 shares of company stock worth $29,935,946 over the last three months. 10.78% of the stock is owned by corporate insiders.

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.