Intellectus Partners LLC Reduces Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Intellectus Partners LLC decreased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 16.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 8,260 shares of the company’s stock after selling 1,650 shares during the period. Intellectus Partners LLC’s holdings in Zoom Video Communications were worth $674,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ZM. US Bancorp DE grew its stake in shares of Zoom Video Communications by 33.5% during the third quarter. US Bancorp DE now owns 2,983 shares of the company’s stock worth $208,000 after acquiring an additional 749 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Zoom Video Communications by 20.6% in the third quarter. Farther Finance Advisors LLC now owns 3,085 shares of the company’s stock valued at $215,000 after buying an additional 526 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Zoom Video Communications by 17.7% in the third quarter. Janney Montgomery Scott LLC now owns 18,595 shares of the company’s stock valued at $1,297,000 after buying an additional 2,800 shares during the last quarter. Van ECK Associates Corp boosted its position in Zoom Video Communications by 1.7% in the third quarter. Van ECK Associates Corp now owns 41,984 shares of the company’s stock valued at $3,045,000 after buying an additional 716 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its position in Zoom Video Communications by 128.6% in the third quarter. QRG Capital Management Inc. now owns 15,914 shares of the company’s stock valued at $1,110,000 after buying an additional 8,952 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $75.98 on Friday. The company has a market cap of $23.29 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 5.48 and a beta of 0.26. The stock has a 50 day simple moving average of $81.31 and a 200-day simple moving average of $77.49. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ZM shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 target price on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Bank of America upped their target price on Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Wells Fargo & Company upgraded Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $70.00 to $85.00 in a research report on Tuesday, January 7th. UBS Group dropped their target price on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Finally, The Goldman Sachs Group boosted their price target on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Fifteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications has an average rating of “Hold” and a consensus price target of $90.05.

Insider Activity at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 75,531 shares of Zoom Video Communications stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Velchamy Sankarlingam sold 3,618 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $307,312.92. Following the sale, the insider now directly owns 107,826 shares of the company’s stock, valued at $9,158,740.44. The trade was a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 374,440 shares of company stock valued at $29,935,946. 10.78% of the stock is owned by insiders.

Zoom Video Communications Company 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.