Vinva Investment Management Ltd Cuts Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Vinva Investment Management Ltd cut its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 13.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,647 shares of the company’s stock after selling 10,641 shares during the quarter. Vinva Investment Management Ltd’s holdings in Zoom Video Communications were worth $5,431,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. OVERSEA CHINESE BANKING Corp Ltd grew its stake in Zoom Video Communications by 22.6% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 20,644 shares of the company’s stock worth $1,705,000 after buying an additional 3,801 shares during the last quarter. Xponance Inc. grew its stake in Zoom Video Communications by 18.8% during the 4th quarter. Xponance Inc. now owns 27,577 shares of the company’s stock worth $2,251,000 after buying an additional 4,372 shares during the last quarter. Generali Asset Management SPA SGR purchased a new position in Zoom Video Communications during the 4th quarter worth $3,060,000. Evoke Wealth LLC grew its stake in Zoom Video Communications by 23.0% during the 4th quarter. Evoke Wealth LLC now owns 6,635 shares of the company’s stock worth $541,000 after buying an additional 1,242 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in Zoom Video Communications by 265.1% during the 4th quarter. Corient Private Wealth LLC now owns 60,750 shares of the company’s stock worth $4,957,000 after buying an additional 44,109 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Up 1.1 %

Shares of Zoom Video Communications stock opened at $76.26 on Thursday. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The business has a 50-day moving average price of $80.13 and a 200 day moving average price of $77.79. The firm has a market cap of $23.28 billion, a PE ratio of 25.42, a P/E/G ratio of 5.48 and a beta of 0.26.

Analyst Ratings Changes

ZM has been the subject of a number of research reports. Barclays lowered their price target on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus lowered their price target on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. Benchmark reaffirmed a “buy” rating and set a $97.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. JMP Securities reaffirmed a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Finally, UBS Group lowered their price target on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Fifteen 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 stock. Based on data from MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and an average price target of $89.33.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 33,751 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $78.69, for a total transaction of $2,655,866.19. Following the completion of the sale, the chief executive officer now directly owns 34,703 shares in the company, valued at approximately $2,730,779.07. The trade was a 49.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Shane Crehan sold 1,412 shares of the business’s 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 sale, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 369,271 shares of company stock worth $29,496,892 in the last 90 days. Corporate insiders own 10.78% of the company’s stock.

About Zoom Video Communications

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.