Vinva Investment Management Ltd Reduces Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Vinva Investment Management Ltd cut its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 13.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,647 shares of the company’s stock after selling 10,641 shares during the period. Vinva Investment Management Ltd’s holdings in Zoom Video Communications were worth $5,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. FMR LLC lifted its holdings in Zoom Video Communications by 23.8% in the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after acquiring an additional 2,395,396 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Zoom Video Communications in the fourth quarter valued at approximately $99,471,000. Eagle Asset Management Inc. acquired a new position in Zoom Video Communications in the third quarter valued at approximately $62,038,000. Assenagon Asset Management S.A. lifted its holdings in Zoom Video Communications by 126.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock valued at $102,119,000 after acquiring an additional 699,625 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Zoom Video Communications by 202.8% in the fourth quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock valued at $64,054,000 after acquiring an additional 521,778 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Zoom Video Communications Price Performance

Zoom Video Communications stock opened at $76.26 on Thursday. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The stock has a market cap of $23.28 billion, a PE ratio of 25.42, a P/E/G ratio of 5.48 and a beta of 0.26. The stock’s fifty day moving average is $80.13 and its two-hundred day moving average is $77.79.

Insider Buying and Selling at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 10,817 shares of Zoom Video Communications stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $851,189.73. Following the sale, the insider now owns 117,760 shares in the company, valued at approximately $9,266,534.40. The trade was a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan Chadwick sold 25,000 shares of Zoom Video Communications stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total value of $2,008,250.00. Following the sale, the director now owns 1,514 shares in the company, valued at $121,619.62. This trade represents a 94.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 369,271 shares of company stock worth $29,496,892 over the last ninety days. Corporate insiders own 10.78% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ZM. Scotiabank decreased their price objective on Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Monday. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. UBS Group lowered their price target on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Cantor Fitzgerald restated a “neutral” rating and set a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $70.00 to $115.00 in a research report on Tuesday, November 26th. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $89.33.

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.