Sicart Associates LLC Has $4.38 Million Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Sicart Associates LLC lessened its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,704 shares of the company’s stock after selling 5,377 shares during the quarter. Zoom Video Communications makes up about 1.6% of Sicart Associates LLC’s investment portfolio, making the stock its 26th largest position. Sicart Associates LLC’s holdings in Zoom Video Communications were worth $4,383,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ZM. Baker Avenue Asset Management LP increased its stake in shares of Zoom Video Communications by 82.1% in the third quarter. Baker Avenue Asset Management LP now owns 28,593 shares of the company’s stock valued at $1,994,000 after buying an additional 12,890 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Zoom Video Communications during the 2nd quarter worth $763,000. HighTower Advisors LLC grew its position in shares of Zoom Video Communications by 449.4% in the 3rd quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after purchasing an additional 52,039 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of Zoom Video Communications by 15.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock worth $87,713,000 after acquiring an additional 167,618 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new position in shares of Zoom Video Communications during the 3rd quarter worth approximately $62,038,000. Institutional investors own 66.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Morgan Stanley increased their price objective on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Friday, January 10th. Wells Fargo & Company raised Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $70.00 to $85.00 in a report on Tuesday, January 7th. Mizuho boosted their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Finally, Sanford C. Bernstein boosted their target price on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a “market perform” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and a consensus target price of $87.81.

Insider Buying and Selling

In other Zoom Video Communications news, CAO Shane Crehan sold 1,551 shares of Zoom Video Communications stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total transaction of $131,741.94. Following the completion of the sale, the chief accounting officer now directly owns 3,251 shares of the company’s stock, valued at $276,139.94. The trade was a 32.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Aparna Bawa sold 9,317 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the sale, the chief operating officer now directly owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. This trade represents a 39.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 500,703 shares of company stock worth $39,257,035. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Trading Down 1.0 %

Shares of ZM stock opened at $79.44 on Friday. The stock has a market capitalization of $24.35 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 4.97 and a beta of -0.01. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The stock’s 50-day moving average price is $83.06 and its 200-day moving average price is $71.45.

About Zoom Video Communications

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.