Quantbot Technologies LP Reduces Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Quantbot Technologies LP lowered its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 76.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 12,185 shares of the company’s stock after selling 39,473 shares during the quarter. Quantbot Technologies LP’s holdings in Zoom Video Communications were worth $994,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ZM. Global X Japan Co. Ltd. raised its holdings in shares of Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after acquiring an additional 190 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Zoom Video Communications by 291.2% during the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after buying an additional 265 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after buying an additional 258 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Zoom Video Communications during the third quarter valued at approximately $37,000. Finally, Geneos Wealth Management Inc. acquired a new stake in Zoom Video Communications during the fourth quarter worth approximately $39,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a report on Tuesday, November 26th. Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $70.00 to $115.00 in a research report on Tuesday, November 26th. Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $100.00 in a report on Thursday, December 19th. Morgan Stanley increased their price objective on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Finally, Barclays lowered their target price on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $89.33.

Zoom Video Communications Stock Performance

ZM stock opened at $78.13 on Wednesday. The firm has a market cap of $23.85 billion, a P/E ratio of 26.04, a price-to-earnings-growth 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. The stock has a 50-day simple moving average of $79.95 and a 200-day simple moving average of $78.11.

Insiders Place Their Bets

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 10,817 shares of Zoom Video Communications stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $851,189.73. Following the sale, the insider now directly owns 117,760 shares in the company, valued at $9,266,534.40. The trade was a 8.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. 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 90 days. 10.78% of the stock is owned by company insiders.

About Zoom Video Communications

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.