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

Cibc World Markets Corp lessened its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 22.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,269 shares of the company’s stock after selling 3,324 shares during the quarter. Cibc World Markets Corp’s holdings in Zoom Video Communications were worth $920,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Zoom Video Communications by 23.8% in the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after purchasing an additional 2,395,396 shares during the period. State Street Corp lifted its stake in Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock valued at $425,853,000 after buying an additional 134,559 shares during the period. Geode Capital Management LLC boosted its holdings in Zoom Video Communications by 4.2% during the third quarter. Geode Capital Management LLC now owns 4,595,435 shares of the company’s stock worth $320,177,000 after buying an additional 184,518 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of Zoom Video Communications by 9.8% during the 3rd quarter. Two Sigma Advisers LP now owns 1,448,700 shares of the company’s stock worth $101,032,000 after buying an additional 128,800 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Zoom Video Communications by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,367,055 shares of the company’s stock valued at $111,565,000 after acquiring an additional 69,612 shares during the last quarter. Institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

NASDAQ:ZM opened at $75.97 on Friday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The company has a market cap of $23.19 billion, a P/E ratio of 25.32, a P/E/G ratio of 5.48 and a beta of 0.26. The stock’s 50-day simple moving average is $79.98 and its 200 day simple moving average is $77.82.

Insiders Place Their Bets

In related news, CAO Shane Crehan sold 1,412 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the completion of the sale, the chief accounting officer now directly owns 5,404 shares in the company, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 have sold 369,271 shares of company stock valued at $29,496,892 in the last 90 days. 10.78% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Citigroup reduced 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. Benchmark reissued a “buy” rating and issued a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Rosenblatt Securities restated a “buy” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Wednesday. UBS Group reduced their target price on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Finally, Morgan Stanley increased their price target on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Fifteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $89.33.

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.