Rockefeller Capital Management L.P. Has $1.04 Million Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Rockefeller Capital Management L.P. cut its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 92.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,956 shares of the company’s stock after selling 193,536 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Zoom Video Communications were worth $1,043,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank increased its holdings in Zoom Video Communications by 15.6% in the 1st quarter. Comerica Bank now owns 4,966 shares of the company’s stock valued at $325,000 after buying an additional 670 shares during the period. Cetera Advisors LLC boosted its position in shares of Zoom Video Communications by 52.1% during the 1st quarter. Cetera Advisors LLC now owns 6,307 shares of the company’s stock valued at $412,000 after acquiring an additional 2,160 shares in the last quarter. CWM LLC increased its stake in Zoom Video Communications by 6.0% in the second quarter. CWM LLC now owns 8,304 shares of the company’s stock valued at $492,000 after acquiring an additional 471 shares during the period. Diversified Trust Co raised its position in Zoom Video Communications by 21.1% in the second quarter. Diversified Trust Co now owns 44,107 shares of the company’s stock worth $2,611,000 after purchasing an additional 7,685 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Zoom Video Communications by 2.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,311 shares of the company’s stock worth $669,000 after purchasing an additional 273 shares during the period. 66.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Aparna Bawa sold 831 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.29, for a total value of $55,086.99. Following the completion of the transaction, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $131,121.62. The trade was a 29.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 83,333 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total value of $6,958,305.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 438,240 shares of company stock worth $32,919,913. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Up 3.4 %

NASDAQ:ZM opened at $86.22 on Monday. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The stock’s fifty day simple moving average is $76.71 and its 200-day simple moving average is $67.03. The firm has a market capitalization of $26.43 billion, a P/E ratio of 28.74, a P/E/G ratio of 5.44 and a beta of -0.03.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Robert W. Baird dropped their target price on Zoom Video Communications from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 22nd. Benchmark lifted their price objective on Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley increased their target price on shares of Zoom Video Communications from $68.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Mizuho boosted their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $85.19.

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.