Gateway Investment Advisers LLC Decreases Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Gateway Investment Advisers LLC lessened its stake in Zoom Video Communications, Inc. (NASDAQ:ZMFree Report) by 8.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 12,543 shares of the company’s stock after selling 1,149 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Zoom Video Communications were worth $1,024,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. raised its position in shares of Zoom Video Communications by 1.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock worth $497,000 after purchasing an additional 131 shares during the last quarter. MML Investors Services LLC increased its stake in Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after buying an additional 132 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Zoom Video Communications by 1.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock valued at $556,000 after acquiring an additional 145 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of Zoom Video Communications by 3.4% in the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after acquiring an additional 154 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Zoom Video Communications by 27.1% during the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after purchasing an additional 164 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on ZM shares. Barclays raised their price objective on Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Hsbc Global Res raised shares of Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Benchmark raised their target price on shares of Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” 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 upped their price target for the company from $85.00 to $100.00 in a research report on Thursday, December 19th. Finally, Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research report on Tuesday, November 19th. Sixteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $89.10.

View Our Latest Stock Report on ZM

Zoom Video Communications Trading Down 1.7 %

Shares of NASDAQ ZM opened at $78.07 on Friday. The stock has a market capitalization of $23.93 billion, a PE ratio of 26.02, a PEG ratio of 4.97 and a beta of -0.01. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The stock has a fifty day simple moving average of $82.98 and a 200-day simple moving average of $71.63.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 35,722 shares of Zoom Video Communications stock in a transaction on Monday, October 21st. The stock was sold at an average price of $71.45, for a total value of $2,552,336.90. Following the completion of the transaction, the chief executive officer now directly owns 57,371 shares in the company, valued at approximately $4,099,157.95. This trade represents a 38.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Shane Crehan sold 1,551 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $131,741.94. Following the sale, the chief accounting officer now owns 3,251 shares in the company, valued at approximately $276,139.94. This trade represents a 32.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 525,703 shares of company stock worth $41,265,285 in the last three months. 10.78% of the stock is owned by company insiders.

Zoom Video Communications Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

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