Rockefeller Capital Management L.P. Has $1.02 Million Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Rockefeller Capital Management L.P. cut its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 16.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 12,434 shares of the company’s stock after selling 2,522 shares during the period. Rockefeller Capital Management L.P.’s holdings in Zoom Video Communications were worth $1,015,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Global X Japan Co. Ltd. increased its stake in Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after purchasing an additional 190 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of 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 buying an additional 258 shares in the last quarter. Avior Wealth Management LLC raised its stake in Zoom Video Communications by 291.2% during the 4th quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the period. Geneos Wealth Management Inc. bought a new position in Zoom Video Communications during the fourth quarter worth about $39,000. Finally, MRP Capital Investments LLC grew its stake in Zoom Video Communications by 500.0% in the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock valued at $49,000 after acquiring an additional 500 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Price Performance

Shares of ZM opened at $70.49 on Tuesday. The company has a market cap of $21.52 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. The firm has a 50-day moving average of $75.09 and a 200-day moving average of $78.62. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

Analyst Upgrades and Downgrades

ZM has been the topic of several recent analyst reports. UBS Group cut their price objective 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. Scotiabank lowered their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating for the company in a research report on Monday, March 17th. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $70.00 to $85.00 in a report on Tuesday, January 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $95.00 price target on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Fifteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and a consensus price target of $86.62.

Insider Buying and Selling

In other Zoom Video Communications news, Director Jonathan Chadwick sold 12,500 shares of the firm’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $72.57, for a total transaction of $907,125.00. Following the completion of the sale, the director now owns 1,514 shares of the company’s stock, valued at $109,870.98. This trade represents a 89.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric S. Yuan sold 83,332 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $86.28, for a total transaction of $7,189,884.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 242,897 shares of company stock worth $18,941,111. Company insiders own 10.78% of the company’s stock.

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.