Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Blue Trust Inc.

Blue Trust Inc. lowered its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 67.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,644 shares of the company’s stock after selling 3,461 shares during the period. Blue Trust Inc.’s holdings in Zoom Video Communications were worth $134,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new position in Zoom Video Communications during the fourth quarter worth about $39,000. Silver Lake Advisory LLC raised its position in shares of Zoom Video Communications by 13.3% during the 4th quarter. Silver Lake Advisory LLC now owns 40,325 shares of the company’s stock worth $3,291,000 after purchasing an additional 4,745 shares during the last quarter. Whalen Wealth Management Inc. purchased a new stake in Zoom Video Communications in the 4th quarter valued at approximately $251,000. Avior Wealth Management LLC grew its holdings in Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after buying an additional 265 shares during the last quarter. Finally, Dakota Wealth Management acquired a new stake in Zoom Video Communications during the 4th quarter valued at $849,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Trading Down 0.2 %

Shares of Zoom Video Communications stock opened at $85.99 on Thursday. The stock has a market capitalization of $26.36 billion and a price-to-earnings ratio of 28.66. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The business’s 50 day simple moving average is $83.08 and its 200-day simple moving average is $73.96.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ZM. Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $100.00 in a research note on Thursday, December 19th. UBS Group raised their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Mizuho upped their target price on Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Scotiabank raised Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Finally, Bank of America lifted their price target on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Sixteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $89.10.

Insider Buying and Selling

In related news, Director Jonathan Chadwick sold 25,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total value of $2,008,250.00. Following the completion of the sale, the director now owns 1,514 shares of the company’s stock, valued at $121,619.62. This represents a 94.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Eric S. Yuan sold 118,036 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $79.03, for a total transaction of $9,328,385.08. The disclosure for this sale can be found here. Insiders have sold a total of 298,910 shares of company stock valued at $24,041,053 in the last quarter. Company insiders own 10.78% of the company’s stock.

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.