Zoom Video Communications, Inc. (NASDAQ:ZM) Stock Holdings Lowered by Prudential Financial Inc.

Prudential Financial Inc. trimmed its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 14.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 505,004 shares of the company’s stock after selling 88,662 shares during the period. Prudential Financial Inc. owned about 0.16% of Zoom Video Communications worth $41,213,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Adero Partners LLC raised its holdings in Zoom Video Communications by 2.4% during the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock worth $450,000 after buying an additional 129 shares during the period. Itau Unibanco Holding S.A. raised its holdings in shares of Zoom Video Communications by 1.9% during the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after acquiring an additional 131 shares during the period. MML Investors Services LLC lifted its position in shares of Zoom Video Communications by 1.4% in the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after acquiring an additional 132 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Zoom Video Communications by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after purchasing an additional 154 shares during the period. Finally, GAMMA Investing LLC grew its position in Zoom Video Communications by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after purchasing an additional 164 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insiders Place Their Bets

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 10,817 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $851,189.73. Following the completion of the sale, the insider now directly owns 117,760 shares of the company’s stock, valued at $9,266,534.40. This represents a 8.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric S. Yuan sold 83,332 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was 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. Insiders sold a total of 369,271 shares of company stock valued at $29,496,892 in the last quarter. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Down 0.1 %

Shares of Zoom Video Communications stock opened at $78.13 on Wednesday. The firm has a fifty day simple moving average of $79.95 and a 200-day simple moving average of $78.11. The stock has a market capitalization of $23.85 billion, a price-to-earnings ratio of 26.04, a PEG 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.

Analyst Upgrades and Downgrades

ZM has been the subject of a number of research analyst reports. Mizuho increased their target price on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a research report on Tuesday, November 26th. Morgan Stanley upped their target price on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Piper Sandler raised their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Zoom Video Communications currently 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.