Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC decreased its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 9.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 558,539 shares of the company’s stock after selling 57,236 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned 0.18% of Zoom Video Communications worth $45,582,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in Zoom Video Communications during the fourth quarter worth approximately $751,908,000. Raymond James Financial Inc. purchased a new stake in Zoom Video Communications in the 4th quarter valued at $99,471,000. Contrarius Group Holdings Ltd acquired a new stake in Zoom Video Communications during the 4th quarter worth $72,854,000. Arrowstreet Capital Limited Partnership grew its position in Zoom Video Communications by 357.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 998,744 shares of the company’s stock worth $81,507,000 after purchasing an additional 780,446 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Zoom Video Communications by 126.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock valued at $102,119,000 after purchasing an additional 699,625 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Down 7.5 %

NASDAQ:ZM opened at $67.75 on Friday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The stock has a fifty day simple moving average of $79.13 and a 200-day simple moving average of $78.35. The company has a market capitalization of $20.68 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ZM shares. Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $100.00 in a report on Thursday, December 19th. Scotiabank dropped their target price on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Monday, March 17th. Rosenblatt Securities reaffirmed a “buy” rating and set a $95.00 price target on shares of Zoom Video Communications in a report on Wednesday, March 19th. Morgan Stanley boosted their price objective on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $87.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $89.33.

Insider Buying and Selling at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,412 shares of Zoom Video Communications stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $111,110.28. Following the completion of the sale, the chief accounting officer now owns 5,404 shares in the company, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 83,332 shares of the business’s 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. In the last three months, insiders sold 371,746 shares of company stock worth $29,689,595. 10.78% of the stock is owned by corporate 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.