Korea Investment CORP Reduces Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Korea Investment CORP trimmed its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 25.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,762 shares of the company’s stock after selling 53,500 shares during the period. Korea Investment CORP owned 0.05% of Zoom Video Communications worth $13,038,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Global X Japan Co. Ltd. boosted its position in shares of Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after purchasing an additional 190 shares during the period. Parkside Financial Bank & Trust boosted its holdings in Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after buying an additional 258 shares during the period. Avior Wealth Management LLC increased its stake in Zoom Video Communications by 291.2% in the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after buying an additional 265 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in Zoom Video Communications during the fourth quarter valued at about $39,000. Finally, MRP Capital Investments LLC lifted its position in shares of Zoom Video Communications by 500.0% in the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock valued at $49,000 after acquiring an additional 500 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Eric S. Yuan sold 83,332 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total value of $7,189,884.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications 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 sale, the director now owns 169,452 shares of the company’s stock, valued at $13,193,532.72. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 371,746 shares of company stock valued at $29,689,595. 10.78% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ZM shares. Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Rosenblatt Securities reaffirmed a “buy” rating and set a $95.00 price objective on shares of Zoom Video Communications in a report on Wednesday, March 19th. Benchmark reissued a “buy” rating and issued a $97.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Citigroup cut their target price on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Finally, Scotiabank decreased their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Monday, March 17th. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $89.33.

Zoom Video Communications Trading Down 2.5 %

ZM stock opened at $74.84 on Monday. The stock has a market cap of $22.84 billion, a PE ratio of 24.95, a P/E/G ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The company has a 50-day moving average price of $79.78 and a 200 day moving average price of $78.31.

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.