Independent Advisor Alliance Sells 247 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Independent Advisor Alliance cut its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,096 shares of the company’s stock after selling 247 shares during the period. Independent Advisor Alliance’s holdings in Zoom Video Communications were worth $253,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CIBC Asset Management Inc grew its holdings in Zoom Video Communications by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 9,108 shares of the company’s stock valued at $635,000 after buying an additional 467 shares in the last quarter. Claro Advisors LLC purchased a new position in Zoom Video Communications during the third quarter valued at approximately $276,000. Swiss National Bank grew its stake in Zoom Video Communications by 1.3% during the third quarter. Swiss National Bank now owns 743,300 shares of the company’s stock valued at $51,838,000 after acquiring an additional 9,400 shares in the last quarter. Quest Partners LLC lifted its stake in Zoom Video Communications by 28.2% in the 3rd quarter. Quest Partners LLC now owns 9,214 shares of the company’s stock worth $643,000 after purchasing an additional 2,029 shares in the last quarter. Finally, Banque Cantonale Vaudoise boosted its holdings in Zoom Video Communications by 22.2% in the 3rd quarter. Banque Cantonale Vaudoise now owns 5,253 shares of the company’s stock valued at $366,000 after purchasing an additional 956 shares during the period. 66.54% of the stock is owned by institutional investors.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 118,036 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $79.03, for a total value of $9,328,385.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Shane Crehan sold 1,412 shares of Zoom Video Communications stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the sale, the chief accounting officer now owns 5,404 shares in the company, valued at $425,240.76. This represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 369,271 shares of company stock worth $29,496,892. 10.78% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ZM. Mizuho lifted their price target 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. Morgan Stanley lifted their target price on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Piper Sandler increased their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Hsbc Global Res upgraded shares of Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Finally, Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $70.00 to $115.00 in a report on Tuesday, November 26th. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $89.33.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $76.26 on Thursday. The stock’s 50-day moving average is $80.13 and its 200 day moving average is $77.79. The company has a market cap of $23.28 billion, a PE ratio of 25.42, a P/E/G ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80.

Zoom Video Communications Company 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.