Diversified Trust Co Sells 12,492 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Diversified Trust Co lessened its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 36.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,100 shares of the company’s stock after selling 12,492 shares during the period. Diversified Trust Co’s holdings in Zoom Video Communications were worth $1,804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ZM. Nordea Investment Management AB raised its holdings in shares of Zoom Video Communications by 202.8% in the 4th 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. Everence Capital Management Inc. bought a new position in shares of Zoom Video Communications in the fourth quarter worth approximately $346,000. 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 valued at $63,000 after purchasing an additional 164 shares in the last quarter. Versant Capital Management Inc lifted its position in Zoom Video Communications by 53.0% during the fourth quarter. Versant Capital Management Inc now owns 1,509 shares of the company’s stock valued at $123,000 after purchasing an additional 523 shares during the last quarter. Finally, Retirement Systems of Alabama grew its stake in Zoom Video Communications by 48.1% in the 3rd quarter. Retirement Systems of Alabama now owns 903,797 shares of the company’s stock worth $63,031,000 after buying an additional 293,375 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Morgan Stanley lifted 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. Barclays increased their price objective on Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Bank of America boosted their target price on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Jefferies Financial Group upgraded shares of Zoom Video Communications from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and a consensus price target of $87.81.

Insiders Place Their Bets

In related news, CAO Shane Crehan sold 1,551 shares of Zoom Video Communications stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $131,741.94. Following the completion of the transaction, the chief accounting officer now directly owns 3,251 shares of the company’s stock, valued at $276,139.94. This trade represents a 32.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jonathan Chadwick sold 12,500 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $68.36, for a total transaction of $854,500.00. Following the sale, the director now directly owns 1,514 shares in the company, valued at $103,497.04. The trade was a 89.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 338,315 shares of company stock worth $26,197,660 over the last three months. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Down 0.7 %

NASDAQ:ZM opened at $79.90 on Thursday. The company has a 50-day moving average price of $82.78 and a 200-day moving average price of $70.70. The stock has a market cap of $24.49 billion, a price-to-earnings ratio of 26.63, a P/E/G ratio of 5.29 and a beta of -0.01. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80.

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.