Harrington Investments INC Reduces Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Harrington Investments INC lowered its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 5.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,545 shares of the company’s stock after selling 1,100 shares during the quarter. Harrington Investments INC’s holdings in Zoom Video Communications were worth $1,432,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. HighTower Advisors LLC lifted its stake in Zoom Video Communications by 449.4% in the third quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock worth $4,429,000 after purchasing an additional 52,039 shares during the last quarter. Merit Financial Group LLC bought a new position in Zoom Video Communications in the 4th quarter valued at $1,072,000. Eagle Asset Management Inc. purchased a new stake in Zoom Video Communications in the third quarter worth $62,038,000. State Street Corp lifted its position in shares of Zoom Video Communications by 2.3% during the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after purchasing an additional 134,559 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Zoom Video Communications during the third quarter valued at $712,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Trading Up 2.7 %

NASDAQ:ZM opened at $74.20 on Friday. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company has a market cap of $22.65 billion, a PE ratio of 24.73, a P/E/G ratio of 5.48 and a beta of 0.26. The company’s 50 day moving average is $80.44 and its two-hundred day moving average is $77.63.

Analysts Set New Price Targets

ZM has been the subject of several research reports. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Morgan Stanley raised their price objective on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Citigroup dropped their price target on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Finally, Benchmark restated a “buy” rating and issued a $97.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 25th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $90.05.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 118,036 shares of Zoom Video Communications stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $79.03, for a total transaction of $9,328,385.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 9,317 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the transaction, the chief operating officer now owns 14,053 shares of the company’s stock, valued at $1,105,830.57. This represents a 39.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 369,271 shares of company stock worth $29,496,892. Company insiders own 10.78% of the company’s stock.

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.