Bank Julius Baer & Co. Ltd Zurich Has $269,000 Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Bank Julius Baer & Co. Ltd Zurich lowered its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 31.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,992 shares of the company’s stock after selling 1,383 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Zoom Video Communications were worth $269,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. FMR LLC grew its stake in Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after acquiring an additional 2,395,396 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Zoom Video Communications in the 4th quarter valued at approximately $99,471,000. Eagle Asset Management Inc. purchased a new stake in Zoom Video Communications in the 3rd quarter worth approximately $62,038,000. Assenagon Asset Management S.A. boosted its stake in shares of Zoom Video Communications by 126.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock valued at $102,119,000 after buying an additional 699,625 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of Zoom Video Communications by 202.8% during the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock valued at $64,054,000 after acquiring an additional 521,778 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Trading Down 3.3 %

ZM opened at $73.47 on Tuesday. The business has a 50 day moving average of $81.12 and a 200-day moving average of $77.65. The stock has a market capitalization of $22.52 billion, a price-to-earnings ratio of 24.49, a P/E/G ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

Analysts Set New Price Targets

Several brokerages recently issued reports on ZM. The Goldman Sachs Group increased their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price target on shares of Zoom Video Communications in a report on Tuesday, November 26th. Citigroup dropped their price objective on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Bank of America lifted their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, UBS Group dropped their price target on shares of 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 equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Zoom Video Communications presently has an average rating of “Hold” and a consensus price target of $90.05.

Insider Activity at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 10,817 shares of the 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 completion of the transaction, the insider now owns 117,760 shares in the company, valued at approximately $9,266,534.40. This represents a 8.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. Insiders sold a total of 369,271 shares of company stock worth $29,496,892 in the last ninety days. 10.78% of the stock is currently owned by insiders.

Zoom Video Communications Company 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.