BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $2.91 Million Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 12.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 41,772 shares of the company’s stock after selling 5,698 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Zoom Video Communications were worth $2,913,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ZM. Truvestments Capital LLC acquired a new position in Zoom Video Communications during the third quarter worth $37,000. Innealta Capital LLC bought a new stake in shares of Zoom Video Communications during the 2nd quarter worth about $33,000. Allworth Financial LP increased its holdings in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after acquiring an additional 180 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Zoom Video Communications in the 2nd quarter valued at approximately $41,000. Finally, Venturi Wealth Management LLC lifted its holdings in Zoom Video Communications by 56.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after purchasing an additional 274 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ZM shares. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday, November 26th. Benchmark lifted their target price on shares of Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Bank of America raised their price target on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $85.19.

Zoom Video Communications Price Performance

Zoom Video Communications stock opened at $83.65 on Thursday. The firm has a market capitalization of $25.75 billion, a P/E ratio of 27.88, a P/E/G ratio of 5.24 and a beta of -0.03. The stock has a fifty day moving average price of $76.08 and a two-hundred day moving average price of $66.72. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Insider Buying and Selling

In other news, CAO Shane Crehan sold 1,550 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 3,614 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 transaction of $241,668.18. Following the sale, the insider now directly owns 94,000 shares in the company, valued at approximately $6,285,780. This represents a 3.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 354,907 shares of company stock worth $25,961,607 in the last quarter. 10.78% of the stock is owned by corporate insiders.

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.