Transcend Capital Advisors LLC Sells 8,945 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Transcend Capital Advisors LLC reduced its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 20.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,347 shares of the company’s stock after selling 8,945 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Zoom Video Communications were worth $2,803,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Prakash Investment Advisors LLC bought a new stake in shares of Zoom Video Communications in the fourth quarter valued at $980,000. Handelsbanken Fonder AB raised its stake in shares of Zoom Video Communications by 53.0% in the fourth quarter. Handelsbanken Fonder AB now owns 256,842 shares of the company’s stock valued at $20,961,000 after buying an additional 88,986 shares during the period. Ieq Capital LLC grew its position in shares of Zoom Video Communications by 288.1% in the fourth quarter. Ieq Capital LLC now owns 140,814 shares of the company’s stock valued at $11,492,000 after purchasing an additional 104,532 shares in the last quarter. Venturi Wealth Management LLC grew its position in shares of Zoom Video Communications by 227.5% in the fourth quarter. Venturi Wealth Management LLC now owns 2,499 shares of the company’s stock valued at $204,000 after purchasing an additional 1,736 shares in the last quarter. Finally, Truist Financial Corp grew its position in shares of Zoom Video Communications by 5.1% in the fourth quarter. Truist Financial Corp now owns 6,120 shares of the company’s stock valued at $499,000 after purchasing an additional 297 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors.

Zoom Video Communications Trading Down 2.0 %

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 firm has a market cap of $25.58 billion and a PE ratio of 27.82. The stock has a 50-day moving average of $83.21 and a 200-day moving average of $75.90.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ZM shares. Morgan Stanley lifted their price target on Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Sanford C. Bernstein lifted their price target on 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. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research report on Friday, January 10th. Barclays lifted their price target on Zoom Video Communications from $70.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Finally, Rosenblatt Securities restated a “buy” rating and set a $78.00 target price on shares of Zoom Video Communications in a research report on Friday, November 22nd. Sixteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $89.48.

Insider Transactions at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 83,333 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $83.50, for a total value of $6,958,305.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Aparna Bawa sold 9,317 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $733,154.73. Following the completion of the sale, the chief operating officer now owns 14,053 shares in the company, valued at $1,105,830.57. The trade was a 39.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 382,242 shares of company stock valued at $31,230,938. Corporate insiders own 10.78% of the company’s stock.

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.