Pacer Advisors Inc. Decreases Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Pacer Advisors Inc. lowered its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,795,660 shares of the company’s stock after selling 684,519 shares during the period. Zoom Video Communications makes up about 0.8% of Pacer Advisors Inc.’s investment portfolio, making the stock its 29th largest position. Pacer Advisors Inc. owned approximately 1.56% of Zoom Video Communications worth $391,374,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ZM. FMR LLC increased its holdings in Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after purchasing an additional 2,395,396 shares during the last quarter. Eagle Asset Management Inc. acquired a new stake in shares of Zoom Video Communications during the third quarter worth approximately $62,038,000. Assenagon Asset Management S.A. increased its stake in shares of Zoom Video Communications by 126.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock worth $102,119,000 after buying an additional 699,625 shares during the last quarter. Nordea Investment Management AB raised its holdings in Zoom Video Communications by 202.8% in the fourth quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock valued at $64,054,000 after acquiring an additional 521,778 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Zoom Video Communications by 6,614.6% during the 3rd quarter. International Assets Investment Management LLC now owns 499,966 shares of the company’s stock valued at $34,868,000 after acquiring an additional 492,520 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Transactions at Zoom Video Communications

In related news, COO Aparna Bawa sold 9,317 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 $733,154.73. Following the completion of the transaction, the chief operating officer now owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. The trade was a 39.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $307,312.92. Following the completion of the transaction, the insider now directly owns 107,826 shares in the company, valued at approximately $9,158,740.44. This represents a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 489,981 shares of company stock worth $38,712,948. 10.78% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Benchmark lifted their target price on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Barclays boosted their target price on shares of Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. UBS Group upped their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday, November 26th. Sixteen 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $89.10.

Zoom Video Communications Stock Performance

Shares of ZM opened at $80.17 on Monday. The firm has a market cap of $24.57 billion, a PE ratio of 26.72, a PEG ratio of 4.99 and a beta of -0.01. The firm’s 50 day moving average price is $82.49 and its 200 day moving average price is $72.59. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

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.