KBC Group NV Reduces Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

KBC Group NV lessened its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 2.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,763,611 shares of the company’s stock after selling 43,009 shares during the quarter. KBC Group NV owned approximately 0.58% of Zoom Video Communications worth $143,929,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Avior Wealth Management LLC boosted its holdings in shares of Zoom Video Communications by 291.2% in the fourth quarter. Avior Wealth Management LLC now owns 356 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications in the 3rd quarter worth $37,000. Geneos Wealth Management Inc. bought a new position in shares of Zoom Video Communications during the 4th quarter worth $39,000. Allworth Financial LP raised its holdings 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 valued at $41,000 after acquiring an additional 180 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Zoom Video Communications by 56.0% in the third quarter. Venturi Wealth Management LLC now owns 763 shares of the company’s stock worth $53,000 after acquiring an additional 274 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Trading Up 0.2 %

NASDAQ:ZM opened at $80.17 on Monday. The company has a market cap of $24.57 billion, a P/E ratio of 26.72, a P/E/G ratio of 4.99 and a beta of -0.01. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The company’s 50-day moving average price is $82.49 and its 200-day moving average price is $72.47.

Insiders Place Their Bets

In related news, insider Velchamy Sankarlingam sold 3,618 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.94, for a total transaction of $307,312.92. Following the completion of the transaction, the insider now owns 107,826 shares of the company’s stock, valued at approximately $9,158,740.44. This trade represents a 3.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jonathan Chadwick sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $75.04, for a total value of $938,000.00. Following the completion of the sale, the director now directly owns 1,514 shares in the company, valued at approximately $113,610.56. The trade was a 89.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 489,981 shares of company stock valued at $38,712,948 in the last three months. 10.78% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on ZM. Mizuho boosted their price target on Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Piper Sandler increased their price target on shares of Zoom Video Communications from $68.00 to $89.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Morgan Stanley lifted their price objective on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Bank of America increased their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Jefferies Financial Group raised shares of Zoom Video Communications from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $100.00 in a report on Thursday, December 19th. Sixteen 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $89.10.

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.