UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 27.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,086,250 shares of the company’s stock after selling 1,584,221 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Zoom Video Communications were worth $284,975,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in Zoom Video Communications in the second quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Zoom Video Communications in the 2nd quarter worth approximately $36,000. Truvestments Capital LLC bought a new stake in Zoom Video Communications during the 3rd quarter worth approximately $37,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Zoom Video Communications during the second quarter valued at approximately $41,000. Finally, Allworth Financial LP boosted its position in shares of Zoom Video Communications by 43.8% in the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock worth $41,000 after purchasing an additional 180 shares during the period. 66.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zoom Video Communications

In related news, insider Velchamy Sankarlingam sold 3,614 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $241,668.18. Following the completion of the transaction, the insider now owns 94,000 shares in the company, valued at $6,285,780. The trade was a 3.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Janet Napolitano sold 4,477 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $69.39, for a total value of $310,659.03. Following the completion of the transaction, the director now directly owns 2,984 shares in the company, valued at $207,059.76. This trade represents a 60.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 367,108 shares of company stock worth $26,796,191 over the last quarter. Insiders own 10.78% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research report on Tuesday. The Goldman Sachs Group raised their price target on Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price objective on Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Scotiabank raised Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Finally, Mizuho upped their price target on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $85.19.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $82.69 on Friday. The business’s 50 day moving average price is $75.22 and its 200-day moving average price is $66.30. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The company has a market cap of $25.45 billion, a P/E ratio of 27.56, a P/E/G ratio of 5.69 and a beta of -0.05.

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.