Wellington Management Group LLP Lowers Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Wellington Management Group LLP reduced its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 13.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,742 shares of the company’s stock after selling 5,101 shares during the quarter. Wellington Management Group LLP’s holdings in Zoom Video Communications were worth $2,214,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ZM. Itau Unibanco Holding S.A. boosted its stake 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 purchasing an additional 131 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in Zoom Video Communications by 1.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock valued at $556,000 after acquiring an additional 145 shares in the last quarter. MetLife Investment Management LLC boosted its position in Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after acquiring an additional 154 shares in the last quarter. Menard Financial Group LLC increased its holdings in shares of Zoom Video Communications by 4.0% in the 3rd quarter. Menard Financial Group LLC now owns 4,331 shares of the company’s stock valued at $302,000 after acquiring an additional 166 shares during the period. Finally, Allworth Financial LP raised its position in shares of Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after acquiring an additional 180 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Insider Buying and Selling at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 10,338 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $69.51, for a total value of $718,594.38. Following the completion of the sale, the insider now directly owns 104,414 shares in the company, valued at $7,257,817.14. This represents a 9.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kelly Steckelberg sold 8,901 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $67.79, for a total transaction of $603,398.79. The disclosure for this sale can be found here. Insiders have sold a total of 428,513 shares of company stock valued at $32,366,914 over the last ninety days. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $82.05 on Thursday. The stock has a 50 day simple moving average of $79.28 and a 200-day simple moving average of $68.26. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The company has a market cap of $25.15 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 5.29 and a beta of -0.03.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ZM shares. Benchmark boosted their target price on shares of Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Bank of America upped their price target on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Stifel Nicolaus raised their price target on Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. The Goldman Sachs Group upped their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, Hsbc Global Res raised shares of Zoom Video Communications to a “strong-buy” rating in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $85.67.

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.