Bank Julius Baer & Co. Ltd Zurich Sells 1,383 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Bank Julius Baer & Co. Ltd Zurich cut its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 31.6% in the fourth quarter, Holdings Channel reports. The fund owned 2,992 shares of the company’s stock after selling 1,383 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Zoom Video Communications were worth $269,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ZM. Baker Avenue Asset Management LP raised its position in Zoom Video Communications by 82.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after purchasing an additional 12,890 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Zoom Video Communications by 449.4% in the third quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after buying an additional 52,039 shares in the last quarter. Merit Financial Group LLC bought a new position in shares of Zoom Video Communications in the fourth quarter valued at about $1,072,000. Eagle Asset Management Inc. acquired a new position in Zoom Video Communications during the 3rd quarter worth about $62,038,000. Finally, State Street Corp grew its holdings in Zoom Video Communications by 2.3% during the 3rd quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after acquiring an additional 134,559 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Insider Transactions at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 75,531 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $851,189.73. Following the completion of the sale, the insider now directly owns 117,760 shares in the company, valued at $9,266,534.40. This represents a 8.41 % 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 valued at $29,496,892 over the last 90 days. 10.78% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ZM shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $87.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Rosenblatt Securities restated a “buy” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Piper Sandler increased their price objective on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Benchmark reissued a “buy” rating and issued a $97.00 target price on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Finally, Bank of America upped their price target on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and an average price target of $90.05.

Zoom Video Communications Trading Down 3.3 %

Shares of Zoom Video Communications stock opened at $73.47 on Tuesday. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The company has a market capitalization of $22.52 billion, a PE ratio of 24.49, a PEG ratio of 5.48 and a beta of 0.26. The stock’s fifty day simple moving average is $81.12 and its 200 day simple moving average is $77.65.

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.