ArrowMark Colorado Holdings LLC Lowers Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

ArrowMark Colorado Holdings LLC lessened its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 32.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 12,800 shares of the company’s stock after selling 6,100 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in Zoom Video Communications were worth $893,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Innealta Capital LLC bought a new stake in shares of Zoom Video Communications during the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Zoom Video Communications in the 2nd quarter worth $36,000. Truvestments Capital LLC bought a new position in shares of Zoom Video Communications during the 3rd quarter valued at about $37,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Zoom Video Communications during the second quarter valued at about $41,000. Finally, Allworth Financial LP increased its holdings in shares of Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

Zoom Video Communications Stock Performance

NASDAQ:ZM opened at $83.11 on Tuesday. The firm has a 50-day simple moving average of $75.22 and a 200-day simple moving average of $66.33. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The firm has a market cap of $25.58 billion, a P/E ratio of 27.70, a P/E/G ratio of 5.22 and a beta of -0.03.

Analysts Set New Price Targets

Several research firms have weighed in on ZM. Stifel Nicolaus raised their price target on Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday, November 26th. UBS Group increased their price target on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Wedbush assumed coverage on Zoom Video Communications in a research note on Thursday, October 17th. They set an “outperform” rating and a $85.00 price objective on the stock. The Goldman Sachs Group raised their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zoom Video Communications has a consensus rating of “Hold” and a consensus price target of $85.19.

Insider Activity at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,550 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $103,648.50. Following the sale, the chief accounting officer now directly owns 1,463 shares in the company, valued at approximately $97,830.81. This trade represents a 51.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 2,420 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $68.38, for a total transaction of $165,479.60. Following the transaction, the chief executive officer now owns 85,514 shares of the company’s stock, valued at approximately $5,847,447.32. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 367,108 shares of company stock valued at $26,796,191 over the last ninety 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.