Healthcare of Ontario Pension Plan Trust Fund Sells 135,300 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Healthcare of Ontario Pension Plan Trust Fund trimmed its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 84.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,700 shares of the company’s stock after selling 135,300 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Zoom Video Communications were worth $1,723,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blueshift Asset Management LLC acquired a new stake in Zoom Video Communications in the 3rd quarter worth approximately $563,000. Glenmede Trust Co. NA raised its stake in shares of Zoom Video Communications by 5.4% in the third quarter. Glenmede Trust Co. NA now owns 264,071 shares of the company’s stock worth $18,416,000 after purchasing an additional 13,513 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Zoom Video Communications during the third quarter worth about $3,603,000. FMR LLC boosted its position in Zoom Video Communications by 23.8% in the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after buying an additional 2,395,396 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Zoom Video Communications by 20.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,125 shares of the company’s stock worth $1,125,000 after buying an additional 2,714 shares during the period. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ZM has been the subject of a number of research reports. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Mizuho increased their target price on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Bank of America lifted their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Sanford C. Bernstein upped their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a report on Tuesday, November 26th. Finally, Piper Sandler increased their target price on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $85.19.

Zoom Video Communications Trading Down 3.1 %

ZM stock opened at $82.69 on Monday. The business’s fifty day moving average price is $75.22 and its 200 day moving average price is $66.33. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The company has a market capitalization of $25.45 billion, a PE ratio of 27.56, a P/E/G ratio of 5.51 and a beta of -0.05.

Insider Buying and Selling at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,550 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total value of $103,648.50. Following the transaction, the chief accounting officer now owns 1,463 shares in the company, valued at approximately $97,830.81. This represents a 51.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. Insiders sold a total of 367,108 shares of company stock valued at $26,796,191 in the last three months. 10.78% of the stock is owned by corporate insiders.

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.