Ethic Inc. Sells 2,311 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Ethic Inc. lessened its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 17.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,834 shares of the company’s stock after selling 2,311 shares during the quarter. Ethic Inc.’s holdings in Zoom Video Communications were worth $884,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ZM. FORA Capital LLC boosted its position in shares of Zoom Video Communications by 120.7% during the fourth quarter. FORA Capital LLC now owns 40,947 shares of the company’s stock worth $3,342,000 after acquiring an additional 22,393 shares during the last quarter. Circle Wealth Management LLC bought a new position in shares of Zoom Video Communications during the 4th quarter valued at about $552,000. Deutsche Bank AG grew its position in shares of Zoom Video Communications by 21.4% during the fourth quarter. Deutsche Bank AG now owns 1,067,939 shares of the company’s stock valued at $87,155,000 after purchasing an additional 188,285 shares in the last quarter. EP Wealth Advisors LLC grew its position in shares of Zoom Video Communications by 4.1% during the fourth quarter. EP Wealth Advisors LLC now owns 9,116 shares of the company’s stock valued at $744,000 after purchasing an additional 355 shares in the last quarter. Finally, Collar Capital Management LLC bought a new stake in shares of Zoom Video Communications in the fourth quarter worth about $1,647,000. 66.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Benchmark reissued a “buy” rating and set a $97.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Morgan Stanley decreased their price objective on Zoom Video Communications from $96.00 to $73.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a report on Wednesday, March 19th. Stifel Nicolaus decreased their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday, February 25th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $87.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen 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 company presently has a consensus rating of “Hold” and a consensus price target of $85.90.

Insider Activity

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 11,839 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total value of $851,342.49. Following the transaction, the insider now directly owns 125,529 shares in the company, valued at $9,026,790.39. This represents a 8.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $78.82, for a total transaction of $195,079.50. Following the transaction, the director now directly owns 157,824 shares in the company, valued at approximately $12,439,687.68. This trade represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,515 shares of company stock valued at $12,132,994. 10.78% of the stock is currently owned by insiders.

Zoom Video Communications Price Performance

Zoom Video Communications stock opened at $83.27 on Thursday. The firm has a market capitalization of $25.42 billion, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a 1-year low of $55.06 and a 1-year high of $92.80. The company’s 50-day moving average is $74.78 and its 200 day moving average is $79.41.

Zoom Video Communications 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.