Harrington Investments INC Sells 1,100 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Harrington Investments INC decreased its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,545 shares of the company’s stock after selling 1,100 shares during the quarter. Harrington Investments INC’s holdings in Zoom Video Communications were worth $1,432,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Poinciana Advisors Group LLC purchased a new stake in shares of Zoom Video Communications in the 4th quarter worth approximately $399,000. Commonwealth Equity Services LLC grew its stake in shares of Zoom Video Communications by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 33,501 shares of the company’s stock worth $2,734,000 after acquiring an additional 715 shares during the last quarter. Rakuten Securities Inc. raised its position in shares of Zoom Video Communications by 427.0% in the 4th quarter. Rakuten Securities Inc. now owns 859 shares of the company’s stock worth $70,000 after purchasing an additional 696 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Zoom Video Communications by 9.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,363 shares of the company’s stock worth $274,000 after purchasing an additional 278 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Zoom Video Communications by 17.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,908 shares of the company’s stock worth $156,000 after purchasing an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Buying and Selling at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,412 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $111,110.28. Following the sale, the chief accounting officer now directly owns 5,404 shares in the company, valued at approximately $425,240.76. The trade was a 20.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. Insiders sold a total of 369,271 shares of company stock valued at $29,496,892 in the last three months. 10.78% of the stock is currently owned by corporate insiders.

Zoom Video Communications Stock Up 2.7 %

NASDAQ ZM opened at $74.20 on Friday. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The business has a 50-day moving average price of $80.44 and a 200-day moving average price of $77.63. The firm has a market cap of $22.65 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Barclays dropped their target price on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Benchmark reaffirmed a “buy” rating and issued a $97.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Sanford C. Bernstein lifted their target price 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. Piper Sandler upped their price target on Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a report on Tuesday, November 26th. Fifteen 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $90.05.

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.