Grimes & Company Inc. Lowers Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Grimes & Company Inc. cut its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 2.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 211,247 shares of the company’s stock after selling 5,258 shares during the quarter. Grimes & Company Inc.’s holdings in Zoom Video Communications were worth $17,240,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Avior Wealth Management LLC raised its position in shares of Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after buying an additional 265 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications during the 3rd quarter valued at $37,000. Geneos Wealth Management Inc. purchased a new stake in shares of Zoom Video Communications during the 4th quarter valued at $39,000. Allworth Financial LP raised its position 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 buying an additional 180 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Zoom Video Communications by 56.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after buying an additional 274 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ZM has been the topic of several research reports. Bank of America raised their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Stifel Nicolaus lifted their target price on shares of Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. Cantor Fitzgerald started coverage on shares of Zoom Video Communications in a research report on Friday, January 17th. They issued a “neutral” rating and a $87.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, January 10th. Finally, Hsbc Global Res upgraded shares of Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Sixteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and an average target price of $89.10.

Zoom Video Communications Trading Up 0.2 %

Shares of NASDAQ ZM opened at $80.17 on Friday. The firm has a 50 day moving average of $82.49 and a 200 day moving average of $72.36. The firm has a market capitalization of $24.57 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 4.99 and a beta of -0.01. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, Director Jonathan Chadwick sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total value of $938,000.00. Following the completion of the transaction, the director now directly owns 1,514 shares in the company, valued at $113,610.56. This represents a 89.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total transaction of $13,733,895.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 489,981 shares of company stock worth $38,712,948. 10.78% of the stock is owned by company insiders.

About Zoom Video Communications

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.