National Pension Service Decreases Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

National Pension Service reduced its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 6.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 614,084 shares of the company’s stock after selling 41,143 shares during the period. National Pension Service’s holdings in Zoom Video Communications were worth $50,115,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Adero Partners LLC lifted its position in Zoom Video Communications by 2.4% in the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock valued at $450,000 after acquiring an additional 129 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in Zoom Video Communications by 1.9% in the third quarter. Itau Unibanco Holding S.A. now owns 7,121 shares of the company’s stock valued at $497,000 after acquiring an additional 131 shares during the last quarter. MML Investors Services LLC lifted its position in Zoom Video Communications by 1.4% in the third quarter. MML Investors Services LLC now owns 9,395 shares of the company’s stock valued at $655,000 after acquiring an additional 132 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in Zoom Video Communications by 1.9% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,970 shares of the company’s stock valued at $556,000 after acquiring an additional 145 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in Zoom Video Communications by 3.4% in the third quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock valued at $322,000 after acquiring an additional 154 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ZM shares. Rosenblatt Securities reissued a “buy” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research report on Tuesday. Morgan Stanley lifted their price objective on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Citigroup dropped their price objective on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Piper Sandler lifted their price objective on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $70.00 to $85.00 in a research note on Tuesday, January 7th. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and an average target price of $90.05.

Insiders Place Their Bets

In other news, insider Velchamy Sankarlingam sold 3,618 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total value of $307,312.92. Following the completion of the sale, the insider now owns 107,826 shares of the company’s stock, valued at $9,158,740.44. This represents a 3.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric S. Yuan sold 83,332 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $86.28, for a total transaction of $7,189,884.96. 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 over the last quarter. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Down 1.7 %

NASDAQ:ZM opened at $72.88 on Friday. The company has a market cap of $22.34 billion and a P/E ratio of 24.29. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm’s 50 day moving average is $82.54 and its two-hundred day moving average is $76.63.

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.