Pacer Advisors Inc. Has $391.37 Million Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Pacer Advisors Inc. decreased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 12.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,795,660 shares of the company’s stock after selling 684,519 shares during the quarter. Zoom Video Communications accounts for approximately 0.8% of Pacer Advisors Inc.’s holdings, making the stock its 29th biggest holding. Pacer Advisors Inc.’s holdings in Zoom Video Communications were worth $391,374,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZM. Avior Wealth Management LLC lifted 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 valued at $29,000 after acquiring an additional 265 shares during the period. Truvestments Capital LLC acquired a new stake in shares of Zoom Video Communications during the 3rd quarter worth about $37,000. Geneos Wealth Management Inc. bought a new position in Zoom Video Communications during the 4th quarter valued at about $39,000. Allworth Financial LP boosted its position in Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after buying an additional 180 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock valued at $53,000 after buying an additional 274 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ZM has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded shares of Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Friday, January 10th. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a report on Tuesday, November 19th. Cantor Fitzgerald began coverage on Zoom Video Communications in a report on Friday, January 17th. They issued a “neutral” rating and a $87.00 price target for the company. Finally, Sanford C. Bernstein increased their price objective on shares of Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a report on Tuesday, November 26th. Sixteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $89.10.

Zoom Video Communications Price Performance

Zoom Video Communications stock opened at $80.17 on Monday. The firm has a market capitalization of $24.57 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 4.99 and a beta of -0.01. The company’s 50 day simple moving average is $82.49 and its 200 day simple moving average is $72.59. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80.

Insiders Place Their Bets

In other news, CAO Shane Crehan sold 1,551 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $131,741.94. Following the completion of the transaction, the chief accounting officer now owns 3,251 shares in the company, valued at $276,139.94. This represents a 32.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan Chadwick sold 25,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the sale, the director now owns 1,514 shares in the company, valued at approximately $121,619.62. The trade was a 94.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 489,981 shares of company stock worth $38,712,948. Company insiders own 10.78% of the company’s stock.

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.