Invenomic Capital Management LP Has $23.66 Million Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Invenomic Capital Management LP reduced its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 52.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 289,926 shares of the company’s stock after selling 321,793 shares during the period. Zoom Video Communications comprises about 1.1% of Invenomic Capital Management LP’s investment portfolio, making the stock its 18th biggest position. Invenomic Capital Management LP owned 0.09% of Zoom Video Communications worth $23,661,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ZM. Global X Japan Co. Ltd. grew its stake in Zoom Video Communications by 127.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after buying an additional 190 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Zoom Video Communications by 277.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 258 shares during the last quarter. Avior Wealth Management LLC boosted its stake in Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares in the last quarter. Colonial Trust Co SC bought a new stake in shares of Zoom Video Communications during the fourth quarter worth $32,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of Zoom Video Communications in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ZM shares. Mizuho dropped their target price on shares of Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Stifel Nicolaus reduced their price objective on Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, February 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Morgan Stanley cut their target price on shares of Zoom Video Communications from $96.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Fifteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $85.90.

Zoom Video Communications Stock Performance

ZM opened at $81.31 on Friday. The business’s 50-day simple moving average is $74.34 and its 200 day simple moving average is $79.24. The firm has a market capitalization of $24.82 billion, a PE ratio of 27.10, a PEG ratio of 5.48 and a beta of 0.79. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,475 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $77.86, for a total transaction of $192,703.50. Following the completion of the sale, the director now owns 169,452 shares of the company’s stock, valued at $13,193,532.72. This trade represents a 1.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 11,839 shares of the company’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $71.91, for a total transaction of $851,342.49. Following the completion of the transaction, the insider now owns 125,529 shares in the company, valued at approximately $9,026,790.39. This represents a 8.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,515 shares of company stock worth $12,132,994 in the last 90 days. Corporate insiders own 11.51% of the company’s stock.

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.