Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,659 shares of the company’s stock after selling 253 shares during the period. Amalgamated Bank’s holdings in Zoom Video Communications were worth $1,115,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ZM. FMR LLC boosted its stake in Zoom Video Communications by 23.8% in the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock valued at $867,906,000 after acquiring an additional 2,395,396 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of Zoom Video Communications in the 3rd quarter valued at about $62,038,000. Assenagon Asset Management S.A. boosted its position in shares of Zoom Video Communications by 126.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock valued at $102,119,000 after purchasing an additional 699,625 shares during the period. Nordea Investment Management AB boosted its position in shares of Zoom Video Communications by 202.8% in the 4th quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock valued at $64,054,000 after purchasing an additional 521,778 shares during the period. Finally, Retirement Systems of Alabama grew its stake in Zoom Video Communications by 48.1% during the 3rd quarter. Retirement Systems of Alabama now owns 903,797 shares of the company’s stock worth $63,031,000 after buying an additional 293,375 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of NASDAQ ZM opened at $74.31 on Tuesday. The company’s fifty day moving average is $82.08 and its two-hundred day moving average is $77.15. The firm has a market capitalization of $22.78 billion and a P/E ratio of 24.77. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

Insider Buying and Selling

In other news, CEO Eric S. Yuan sold 118,036 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $79.03, for a total value of $9,328,385.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.94, for a total value of $307,312.92. Following the transaction, the insider now directly owns 107,826 shares of the company’s stock, valued at $9,158,740.44. This trade represents a 3.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 382,242 shares of company stock valued at $31,230,938. Corporate insiders own 10.78% of the company’s stock.

Wall Street Analyst Weigh In

ZM has been the subject of a number of research reports. Citigroup reduced their price objective 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. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Stifel Nicolaus lowered their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. Hsbc Global Res upgraded shares of Zoom Video Communications to a “strong-buy” rating in a research note on Tuesday, November 26th. Finally, Scotiabank upgraded shares of Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and an average price target of $90.05.

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.