Gateway Investment Advisers LLC Sells 1,149 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Gateway Investment Advisers LLC cut its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 8.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,543 shares of the company’s stock after selling 1,149 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Zoom Video Communications were worth $1,024,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ZM. Itau Unibanco Holding S.A. grew its position in Zoom Video Communications by 1.9% during the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after acquiring an additional 131 shares during the last quarter. MML Investors Services LLC increased its position in shares of Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after acquiring an additional 132 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Zoom Video Communications by 1.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock worth $556,000 after purchasing an additional 145 shares during the period. MetLife Investment Management LLC grew its stake in shares of Zoom Video Communications by 3.4% in the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after purchasing an additional 154 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Zoom Video Communications by 27.1% in the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after buying an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ZM. UBS Group lifted their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Morgan Stanley upped their price target on 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. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $70.00 to $115.00 in a research note on Tuesday, November 26th. Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $70.00 to $85.00 in a research note on Tuesday, January 7th. Finally, Barclays raised their price objective 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. Sixteen 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. Based on data from MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and a consensus target price of $89.10.

Insider Buying and Selling

In other news, CAO Shane Crehan sold 1,551 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the sale, the chief accounting officer now owns 3,251 shares in the company, valued at $276,139.94. This represents a 32.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan Chadwick sold 25,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the transaction, the director now owns 1,514 shares of the company’s stock, valued at $121,619.62. This represents a 94.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 525,703 shares of company stock worth $41,265,285 in the last three months. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM opened at $78.07 on Friday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The firm has a market capitalization of $23.93 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 4.97 and a beta of -0.01. The stock has a 50 day moving average price of $82.98 and a 200 day moving average price of $71.63.

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.