Cornercap Investment Counsel Inc. Sells 730 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Cornercap Investment Counsel Inc. reduced its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 3.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 18,886 shares of the company’s stock after selling 730 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Zoom Video Communications were worth $1,541,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Adero Partners LLC lifted its holdings in shares of Zoom Video Communications by 2.4% during the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock worth $450,000 after purchasing an additional 129 shares during the period. Itau Unibanco Holding S.A. lifted its stake in Zoom Video Communications by 1.9% during the 3rd 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 boosted its holdings 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 during the last quarter. MetLife Investment Management LLC increased its stake in shares of Zoom Video Communications by 3.4% in the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after acquiring an additional 154 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Zoom Video Communications by 27.1% during the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after purchasing an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Transactions at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,412 shares of the firm’s 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 sale, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Santiago Subotovsky sold 2,475 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $77.86, for a total transaction of $192,703.50. Following the sale, the director now owns 169,452 shares of the company’s stock, valued at $13,193,532.72. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 371,746 shares of company stock valued at $29,689,595. 10.78% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ZM has been the topic of several analyst reports. Scotiabank cut their price target on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Monday, March 17th. Citigroup reduced their target price on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Stifel Nicolaus decreased their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday, February 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $89.33.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $74.84 on Friday. The firm has a market cap of $22.84 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 5.48 and a beta of 0.26. The firm has a 50 day simple moving average of $79.78 and a 200-day simple moving average of $78.15. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

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.