Allspring Global Investments Holdings LLC Has $4.45 Million Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Allspring Global Investments Holdings LLC cut its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 29.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,494 shares of the company’s stock after selling 23,237 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Zoom Video Communications were worth $4,446,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Global X Japan Co. Ltd. boosted its stake in Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after buying an additional 190 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of Zoom Video Communications in the 3rd quarter valued at approximately $37,000. Geneos Wealth Management Inc. bought a new stake in shares of Zoom Video Communications during the 4th quarter valued at approximately $39,000. Finally, Allworth Financial LP grew its holdings in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Eric S. Yuan sold 83,332 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total value of $7,189,884.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Velchamy Sankarlingam sold 3,618 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $307,312.92. Following the transaction, the insider now directly owns 107,826 shares in the company, valued at approximately $9,158,740.44. This trade represents a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 382,242 shares of company stock worth $31,230,938. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Price Performance

Shares of NASDAQ:ZM opened at $83.45 on Friday. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $92.80. The business’s 50-day moving average is $83.28 and its 200-day moving average is $75.85. The company has a market capitalization of $25.58 billion and a price-to-earnings ratio of 27.82.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Friday, January 10th. Sanford C. Bernstein increased their price target on Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research note on Tuesday, November 26th. Morgan Stanley boosted their price objective on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Stifel Nicolaus upped their target price on Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Finally, Hsbc Global Res raised Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Sixteen investment 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $89.48.

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.