Independent Advisor Alliance Sells 247 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Independent Advisor Alliance reduced its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 7.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,096 shares of the company’s stock after selling 247 shares during the quarter. Independent Advisor Alliance’s holdings in Zoom Video Communications were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZM. Daiwa Securities Group Inc. raised its position in shares of Zoom Video Communications by 3.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 23,822 shares of the company’s stock worth $1,944,000 after purchasing an additional 840 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Zoom Video Communications by 16.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 137,194 shares of the company’s stock worth $11,196,000 after buying an additional 19,087 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Zoom Video Communications by 4.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company’s stock worth $330,000 after buying an additional 168 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Zoom Video Communications during the fourth quarter valued at approximately $826,000. Finally, Jackson Creek Investment Advisors LLC increased its position in shares of Zoom Video Communications by 10.3% during the fourth quarter. Jackson Creek Investment Advisors LLC now owns 5,435 shares of the company’s stock valued at $444,000 after acquiring an additional 508 shares in the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 10,817 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $851,189.73. Following the sale, the insider now directly owns 117,760 shares of the company’s stock, valued at $9,266,534.40. This trade represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Shane Crehan sold 1,412 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total value of $111,110.28. Following the completion of the transaction, the chief accounting officer now directly owns 5,404 shares of the company’s stock, valued at approximately $425,240.76. This trade represents a 20.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 369,271 shares of company stock worth $29,496,892. 10.78% of the stock is owned by company insiders.

Zoom Video Communications Stock Up 1.1 %

Shares of ZM opened at $76.26 on Thursday. The business has a 50-day simple moving average of $80.13 and a two-hundred day simple moving average of $77.79. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The stock has a market cap of $23.28 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 5.48 and a beta of 0.26.

Analyst Ratings Changes

Several research firms recently issued reports on ZM. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Wednesday. Barclays dropped their price objective on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. UBS Group decreased their target price on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Benchmark reaffirmed a “buy” rating and set a $97.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 25th. Finally, Bank of America boosted their price objective on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Fifteen investment 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $89.33.

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.