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

Quantbot Technologies LP trimmed its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 76.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Global X Japan Co. Ltd. lifted its stake in Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after purchasing an additional 190 shares in the last quarter. Avior Wealth Management LLC lifted its stake in Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Zoom Video Communications by 277.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after acquiring an additional 258 shares during the period. Truvestments Capital LLC acquired a new position in Zoom Video Communications in the 3rd quarter valued at about $37,000. Finally, Geneos Wealth Management Inc. purchased a new stake in Zoom Video Communications during the fourth quarter worth about $39,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 118,036 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $79.03, for a total value of $9,328,385.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Velchamy Sankarlingam sold 10,817 shares of Zoom Video Communications stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $851,189.73. Following the completion of the sale, the insider now directly owns 117,760 shares in the company, valued at approximately $9,266,534.40. The trade was a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 369,271 shares of company stock valued at $29,496,892 in the last ninety days. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of ZM opened at $78.13 on Wednesday. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm has a 50-day simple moving average of $79.95 and a 200-day simple moving average of $78.11. The company has a market capitalization of $23.85 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Scotiabank decreased their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating for the company in a research report on Monday, March 17th. Piper Sandler upped their price objective on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Benchmark reiterated a “buy” rating and issued a $97.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $70.00 to $115.00 in a report on Tuesday, November 26th. Fifteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $89.33.

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.