Blue Trust Inc. Reduces Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Blue Trust Inc. decreased its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 82.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 884 shares of the company’s stock after selling 4,221 shares during the period. Blue Trust Inc.’s holdings in Zoom Video Communications were worth $72,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ZM. Adero Partners LLC lifted its holdings in Zoom Video Communications by 2.4% during the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock worth $450,000 after buying an additional 129 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings 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 worth $497,000 after buying an additional 131 shares in the last quarter. MML Investors Services LLC lifted its holdings in Zoom Video Communications by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock worth $655,000 after buying an additional 132 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings 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 worth $556,000 after buying an additional 145 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings 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 worth $322,000 after buying an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Transactions at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 83,332 shares of Zoom Video Communications stock in a transaction on 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 legal filing with the SEC, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the transaction, the insider now owns 107,826 shares in the company, valued at $9,158,740.44. This represents a 3.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 382,242 shares of company stock worth $31,230,938 in the last three months. 10.78% of the stock is currently owned by company insiders.

Zoom Video Communications Trading Down 1.1 %

NASDAQ ZM opened at $82.50 on Monday. The business’s 50-day moving average price is $83.18 and its 200 day moving average price is $76.37. The company has a market capitalization of $25.29 billion and a PE ratio of 27.50. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.

Analyst Upgrades and Downgrades

ZM has been the topic of several recent analyst reports. Citigroup dropped their target price on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Hsbc Global Res upgraded Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Finally, Evercore ISI upgraded Zoom Video Communications from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $70.00 to $115.00 in a research note on Tuesday, November 26th. Sixteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and a consensus target price of $89.48.

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.