Transcend Capital Advisors LLC Cuts Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Transcend Capital Advisors LLC lowered its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 20.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,347 shares of the company’s stock after selling 8,945 shares during the period. Transcend Capital Advisors LLC’s holdings in Zoom Video Communications were worth $2,803,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ZM. Creative Planning boosted its stake in Zoom Video Communications by 18.5% during the 3rd quarter. Creative Planning now owns 34,522 shares of the company’s stock valued at $2,408,000 after purchasing an additional 5,396 shares during the last quarter. Blue Trust Inc. boosted its stake in Zoom Video Communications by 117.7% during the 3rd quarter. Blue Trust Inc. now owns 5,105 shares of the company’s stock valued at $356,000 after purchasing an additional 2,760 shares during the last quarter. Raymond James & Associates boosted its stake in Zoom Video Communications by 0.7% during the 3rd quarter. Raymond James & Associates now owns 53,089 shares of the company’s stock valued at $3,702,000 after purchasing an additional 383 shares during the last quarter. Signaturefd LLC boosted its stake in Zoom Video Communications by 12.7% during the 3rd quarter. Signaturefd LLC now owns 3,443 shares of the company’s stock valued at $240,000 after purchasing an additional 387 shares during the last quarter. Finally, Courier Capital LLC purchased a new stake in Zoom Video Communications during the 3rd quarter valued at $251,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock in a transaction dated 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 sale, the insider now directly owns 107,826 shares in the company, valued at $9,158,740.44. This trade represents a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 382,242 shares of company stock valued at $31,230,938 over the last ninety days. 10.78% of the stock is currently owned by company insiders.

Zoom Video Communications Stock Down 2.0 %

NASDAQ:ZM opened at $83.45 on Friday. The business’s 50-day simple moving average is $83.21 and its two-hundred day simple moving average is $75.90. The stock has a market cap of $25.58 billion and a PE ratio of 27.82. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80.

Analyst Ratings Changes

Several brokerages have commented on ZM. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Benchmark increased their price target on Zoom Video Communications from $85.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Sanford C. Bernstein increased their price target on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a report on Tuesday, November 26th. The Goldman Sachs Group increased their price target on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley increased their price target on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Sixteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Zoom Video Communications currently has an average rating of “Hold” and an average target price of $89.48.

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.