AlphaQuest LLC Sells 3,522 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

AlphaQuest LLC reduced its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 38.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,692 shares of the company’s stock after selling 3,522 shares during the period. AlphaQuest LLC’s holdings in Zoom Video Communications were worth $465,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in Zoom Video Communications by 4.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company’s stock worth $330,000 after buying an additional 168 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Zoom Video Communications during the fourth quarter worth about $826,000. Jackson Creek Investment Advisors LLC lifted its holdings in shares of Zoom Video Communications by 10.3% during the 4th quarter. Jackson Creek Investment Advisors LLC now owns 5,435 shares of the company’s stock valued at $444,000 after purchasing an additional 508 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its position in shares of Zoom Video Communications by 10.9% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 6,624 shares of the company’s stock valued at $541,000 after purchasing an additional 651 shares during the period. Finally, Vestmark Advisory Solutions Inc. bought a new stake in Zoom Video Communications during the 4th quarter worth approximately $1,999,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $70.00 to $85.00 in a report on Tuesday, January 7th. Evercore ISI raised shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $70.00 to $115.00 in a research note on Tuesday, November 26th. Morgan Stanley increased their target price on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. UBS Group cut their price target on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Finally, Citigroup reduced their price objective on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Fifteen 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.com, the company presently has a consensus rating of “Hold” and an average target price of $90.05.

Insider Buying and Selling

In other Zoom Video Communications news, CAO Shane Crehan sold 1,412 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $111,110.28. Following the transaction, the chief accounting officer now owns 5,404 shares in the company, valued at $425,240.76. This trade represents a 20.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 10,817 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $851,189.73. Following the sale, the insider now owns 117,760 shares of the company’s stock, valued at approximately $9,266,534.40. The trade was a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 369,271 shares of company stock valued at $29,496,892. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of ZM opened at $72.23 on Friday. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The firm has a market cap of $22.14 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. The firm’s 50-day simple moving average is $80.61 and its 200 day simple moving average is $77.61.

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.