Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA trimmed its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 6.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,202,250 shares of the company’s stock after selling 86,900 shares during the period. Primecap Management Co. CA’s holdings in Zoom Video Communications were worth $98,116,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Crossmark Global Holdings Inc. acquired a new position in Zoom Video Communications in the 3rd quarter valued at $203,000. Metis Global Partners LLC raised its stake in Zoom Video Communications by 7.1% in the 3rd quarter. Metis Global Partners LLC now owns 4,046 shares of the company’s stock valued at $282,000 after purchasing an additional 267 shares during the last quarter. CIBC Asset Management Inc raised its stake in Zoom Video Communications by 5.4% in the 3rd quarter. CIBC Asset Management Inc now owns 9,108 shares of the company’s stock valued at $635,000 after purchasing an additional 467 shares during the last quarter. Claro Advisors LLC acquired a new position in Zoom Video Communications in the 3rd quarter valued at $276,000. Finally, Swiss National Bank raised its stake in Zoom Video Communications by 1.3% in the 3rd quarter. Swiss National Bank now owns 743,300 shares of the company’s stock valued at $51,838,000 after purchasing an additional 9,400 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $75.45 on Wednesday. The business has a 50-day moving average of $80.20 and a 200 day moving average of $77.80. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $92.80. The stock has a market capitalization of $23.03 billion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26.

Analyst Ratings Changes

Several research firms recently commented on ZM. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. The Goldman Sachs Group raised their target price on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Jefferies Financial Group raised Zoom Video Communications from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $100.00 in a research note on Thursday, December 19th. Citigroup cut their target price on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Finally, Mizuho raised their target price on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $89.33.

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 dated Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of Zoom Video Communications stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $80.33, for a total value of $2,008,250.00. Following the completion of the transaction, the director now owns 1,514 shares of the company’s stock, valued at $121,619.62. The trade was a 94.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 369,271 shares of company stock worth $29,496,892 in the last three months. 10.78% of the stock is owned by company insiders.

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.