Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by KBC Group NV

KBC Group NV trimmed its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 2.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,763,611 shares of the company’s stock after selling 43,009 shares during the period. KBC Group NV’s holdings in Zoom Video Communications were worth $143,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Avior Wealth Management LLC grew its stake in Zoom Video Communications by 291.2% during 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 during the last quarter. Truvestments Capital LLC purchased a new position in shares of Zoom Video Communications during the third quarter worth approximately $37,000. Geneos Wealth Management Inc. purchased a new position in shares of Zoom Video Communications during the fourth quarter worth approximately $39,000. Allworth Financial LP increased its holdings in shares of Zoom Video Communications by 43.8% in 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 period. Finally, Venturi Wealth Management LLC raised its position in Zoom Video Communications by 56.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after purchasing an additional 274 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Price Performance

NASDAQ ZM opened at $80.17 on Monday. The business has a 50 day moving average price of $82.49 and a 200 day moving average price of $72.47. The company has a market capitalization of $24.57 billion, a P/E ratio of 26.72, a PEG ratio of 4.99 and a beta of -0.01. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ZM. Rosenblatt Securities reissued a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research report on Friday, November 22nd. Wedbush began coverage on Zoom Video Communications in a research report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price target on the stock. Sanford C. Bernstein upped their price objective on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research note on Tuesday, November 26th. Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. Finally, Bank of America upped their price target on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Sixteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $89.10.

Insider Activity

In other news, Director Jonathan Chadwick sold 12,500 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was 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 of the company’s stock, valued at $113,610.56. The trade was a 89.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Eric S. Yuan sold 178,571 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. Insiders sold a total of 489,981 shares of company stock worth $38,712,948 over the last 90 days. 10.78% of the stock is currently owned by corporate 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.