Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Oak Thistle LLC

Oak Thistle LLC lowered its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 48.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,058 shares of the company’s stock after selling 3,770 shares during the period. Oak Thistle LLC’s holdings in Zoom Video Communications were worth $331,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ZM. Pacer Advisors Inc. lifted its holdings in shares of Zoom Video Communications by 96.7% in the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after purchasing an additional 2,579,720 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Zoom Video Communications by 78.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after purchasing an additional 2,520,987 shares during the last quarter. FMR LLC lifted its stake in Zoom Video Communications by 23.8% in the 3rd 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 in the last quarter. Eagle Asset Management Inc. purchased a new stake in Zoom Video Communications in the 3rd quarter valued at approximately $62,038,000. Finally, Nordea Investment Management AB grew its holdings 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 valued at $64,054,000 after buying an additional 521,778 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on ZM shares. Rosenblatt Securities restated a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research report on Friday, November 22nd. UBS Group upped their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Wedbush assumed coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They set an “outperform” rating and a $85.00 price target for the company. 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. Finally, Piper Sandler lifted their price target on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $87.77.

Zoom Video Communications Price Performance

NASDAQ:ZM opened at $78.07 on Friday. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The business’s 50-day moving average is $83.05 and its two-hundred day moving average is $71.50. The firm has a market capitalization of $23.93 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 4.97 and a beta of -0.01.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 35,722 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $71.45, for a total value of $2,552,336.90. Following the completion of the transaction, the chief executive officer now directly owns 57,371 shares of the company’s stock, valued at $4,099,157.95. This represents a 38.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jonathan Chadwick sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total value of $938,000.00. Following the sale, the director now owns 1,514 shares of the company’s stock, valued at $113,610.56. This represents a 89.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 525,703 shares of company stock worth $41,265,285. 10.78% of the stock is currently owned by company 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.