Janus Henderson Group PLC Lowers Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Janus Henderson Group PLC lowered its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 13.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,787 shares of the company’s stock after selling 3,100 shares during the quarter. Janus Henderson Group PLC’s holdings in Zoom Video Communications were worth $1,696,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ZM. Norges Bank acquired a new position in Zoom Video Communications in the fourth quarter valued at $751,908,000. Altshuler Shaham Ltd lifted its stake in shares of Zoom Video Communications by 285.9% in the 4th quarter. Altshuler Shaham Ltd now owns 2,056,277 shares of the company’s stock valued at $167,813,000 after purchasing an additional 1,523,480 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Zoom Video Communications by 24.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,385,523 shares of the company’s stock valued at $521,123,000 after purchasing an additional 1,247,717 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Zoom Video Communications during the 4th quarter worth about $99,471,000. Finally, Contrarius Group Holdings Ltd acquired a new stake in Zoom Video Communications during the 4th quarter worth approximately $72,854,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Video Communications Price Performance

NASDAQ ZM opened at $82.27 on Thursday. The company has a market capitalization of $25.11 billion, a price-to-earnings ratio of 27.42, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The company’s fifty day moving average price is $75.78 and its two-hundred day moving average price is $79.70.

Insider Activity

In other news, CEO Eric S. Yuan sold 75,531 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Velchamy Sankarlingam sold 11,839 shares of the firm’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total value of $851,342.49. Following the transaction, the insider now owns 125,529 shares in the company, valued at $9,026,790.39. This trade represents a 8.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,515 shares of company stock worth $12,132,994. 11.51% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on ZM. Citigroup reduced their price target on shares of Zoom Video Communications from $85.00 to $84.00 and set a “neutral” rating on the stock in a research report on Thursday, May 15th. Rosenblatt Securities restated a “buy” rating and set a $90.00 target price on shares of Zoom Video Communications in a report on Thursday, May 8th. Barclays decreased their price target on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus cut their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. Finally, UBS Group reduced their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus target price of $86.33.

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.