Cornercap Investment Counsel Inc. Sells 730 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Cornercap Investment Counsel Inc. trimmed its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,886 shares of the company’s stock after selling 730 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Zoom Video Communications were worth $1,541,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ZM. Global X Japan Co. Ltd. grew its position in shares of Zoom Video Communications by 127.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after buying an additional 190 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Zoom Video Communications by 277.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 258 shares in the last quarter. Avior Wealth Management LLC raised its position in shares of Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in Zoom Video Communications in the 4th quarter worth about $39,000. Finally, MRP Capital Investments LLC grew its position in Zoom Video Communications by 500.0% during the 4th quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock valued at $49,000 after purchasing an additional 500 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

Zoom Video Communications Trading Down 2.5 %

Shares of NASDAQ:ZM opened at $74.84 on Friday. The company has a 50-day moving average price of $79.78 and a 200 day moving average price of $78.15. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The company has a market cap of $22.84 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 5.48 and a beta of 0.26.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ZM. Citigroup dropped their target price on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Benchmark reissued a “buy” rating and set a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Morgan Stanley lifted their price objective on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Scotiabank lowered their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Monday, March 17th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen equities research 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $89.33.

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 83,332 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Shane Crehan sold 1,412 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $111,110.28. Following the completion of the sale, the chief accounting officer now owns 5,404 shares in the company, valued at approximately $425,240.76. The trade was a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 371,746 shares of company stock valued at $29,689,595. 10.78% of the stock is currently owned by 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.