UniSuper Management Pty Ltd Sells 1,200 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

UniSuper Management Pty Ltd decreased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 20.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,800 shares of the company’s stock after selling 1,200 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Zoom Video Communications were worth $392,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZM. HighTower Advisors LLC increased its holdings in Zoom Video Communications by 449.4% in the 3rd 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 in the last quarter. Merit Financial Group LLC acquired a new position in shares of Zoom Video Communications in the fourth quarter valued at approximately $1,072,000. State Street Corp raised its holdings in Zoom Video Communications by 2.3% in the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after buying an additional 134,559 shares during the last quarter. Nordea Investment Management AB boosted its position in Zoom Video Communications by 202.8% during the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock worth $64,054,000 after buying an additional 521,778 shares during the period. Finally, Tri Ri Asset Management Corp bought a new stake in Zoom Video Communications during the 3rd quarter worth approximately $2,676,000. 66.54% of the stock is owned by institutional investors.

Zoom Video Communications Price Performance

ZM opened at $73.77 on Tuesday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm has a market capitalization of $22.52 billion, a P/E ratio of 24.59, a PEG ratio of 5.48 and a beta of 0.26. The company’s 50-day moving average is $79.69 and its 200 day moving average is $78.36.

Analyst Upgrades and Downgrades

Several brokerages have commented on ZM. UBS Group cut their target price on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Wednesday, March 19th. Benchmark reiterated a “buy” rating and set a $97.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Scotiabank reduced their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating for the company in a report on Monday, March 17th. Finally, Jefferies Financial Group upgraded shares of Zoom Video Communications from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $100.00 in a report on Thursday, December 19th. Fifteen research 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 company. According to data from MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and a consensus target price of $89.33.

Insider Buying and Selling at Zoom Video Communications

In related news, Director Santiago Subotovsky sold 2,475 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $77.86, for a total transaction of $192,703.50. Following the completion of the transaction, the director now owns 169,452 shares in the company, valued at approximately $13,193,532.72. This represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric S. Yuan sold 118,036 shares of Zoom Video Communications stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $79.03, for a total transaction of $9,328,385.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 371,746 shares of company stock worth $29,689,595. 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.