Cibc World Markets Corp Has $920,000 Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Cibc World Markets Corp decreased its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 22.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,269 shares of the company’s stock after selling 3,324 shares during the period. Cibc World Markets Corp’s holdings in Zoom Video Communications were worth $920,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Corient Private Wealth LLC grew its holdings in Zoom Video Communications by 265.1% in the 4th quarter. Corient Private Wealth LLC now owns 60,750 shares of the company’s stock valued at $4,957,000 after buying an additional 44,109 shares in the last quarter. Poinciana Advisors Group LLC acquired a new position in shares of Zoom Video Communications in the fourth quarter valued at about $399,000. Commonwealth Equity Services LLC increased its position in Zoom Video Communications by 2.2% during 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 period. Rakuten Securities Inc. raised its stake in 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 in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Zoom Video Communications by 9.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,363 shares of the company’s stock valued at $274,000 after purchasing an additional 278 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Trading Down 0.1 %

Shares of ZM stock opened at $75.97 on Friday. The business’s 50-day moving average price is $79.98 and its 200-day moving average price is $77.82. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The firm has a market capitalization of $23.19 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 5.48 and a beta of 0.26.

Insider Buying and Selling

In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of Zoom Video Communications stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 10,817 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $851,189.73. Following the completion of the sale, the insider now directly owns 117,760 shares of the company’s stock, valued at approximately $9,266,534.40. The trade was a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 369,271 shares of company stock worth $29,496,892 in the last ninety days. Company insiders own 10.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JMP Securities reiterated a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Bank of America lifted their price objective on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. The Goldman Sachs Group upped their target price on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Citigroup decreased their price target on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Wednesday. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $89.33.

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.