Vontobel Holding Ltd. Sells 11,882 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Vontobel Holding Ltd. cut its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 22.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,425 shares of the company’s stock after selling 11,882 shares during the quarter. Vontobel Holding Ltd.’s holdings in Zoom Video Communications were worth $3,381,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ZM. Creative Planning increased its holdings in Zoom Video Communications by 18.5% in the 3rd quarter. Creative Planning now owns 34,522 shares of the company’s stock worth $2,408,000 after buying an additional 5,396 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Zoom Video Communications by 28.2% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 24,306 shares of the company’s stock worth $1,695,000 after buying an additional 5,343 shares in the last quarter. Claro Advisors LLC bought a new stake in Zoom Video Communications in the 3rd quarter worth about $276,000. Aaron Wealth Advisors LLC bought a new stake in Zoom Video Communications in the 3rd quarter worth about $275,000. Finally, Blue Trust Inc. increased its holdings in Zoom Video Communications by 117.7% in the 3rd quarter. Blue Trust Inc. now owns 5,105 shares of the company’s stock worth $356,000 after buying an additional 2,760 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ZM shares. Sanford C. Bernstein lifted their price objective on Zoom Video Communications from $78.00 to $89.00 and gave the stock a “market perform” rating in a report on Tuesday, November 26th. Benchmark raised their target price on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler raised their target price on Zoom Video Communications from $68.00 to $89.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Barclays raised their target price on Zoom Video Communications from $70.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Finally, JMP Securities reissued a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Sixteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and an average target price of $89.10.

Zoom Video Communications Trading Down 0.1 %

Shares of ZM opened at $85.10 on Monday. The business’s 50 day moving average is $83.29 and its 200 day moving average is $75.30. The company has a market capitalization of $26.08 billion and a PE ratio of 28.37. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80.

Insiders Place Their Bets

In other news, Director Jonathan Chadwick sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the transaction, the director now owns 1,514 shares of the company’s stock, valued at approximately $121,619.62. The trade was a 94.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Eric S. Yuan sold 118,036 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $79.03, for a total value of $9,328,385.08. The disclosure for this sale can be found here. Insiders have sold a total of 382,242 shares of company stock valued at $31,230,938 in the last quarter. 10.78% of the stock is currently owned by insiders.

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.