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

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 27.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,086,250 shares of the company’s stock after selling 1,584,221 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.33% of Zoom Video Communications worth $284,975,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in Zoom Video Communications by 96.7% during the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock valued at $310,566,000 after buying an additional 2,579,720 shares during the period. AQR Capital Management LLC lifted its position in Zoom Video Communications by 78.5% in the second quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock valued at $337,233,000 after purchasing an additional 2,520,987 shares during the last quarter. FMR LLC grew its holdings in shares of Zoom Video Communications by 23.8% in the third quarter. FMR LLC now owns 12,444,887 shares of the company’s stock worth $867,906,000 after purchasing an additional 2,395,396 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Zoom Video Communications by 60.9% in the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after buying an additional 1,855,679 shares during the period. Finally, Eagle Asset Management Inc. bought a new stake in Zoom Video Communications during the 3rd quarter valued at $62,038,000. Institutional investors own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ZM. Bank of America increased their target price on shares of Zoom Video Communications from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday. Rosenblatt Securities reiterated a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a report on Friday, November 22nd. Morgan Stanley boosted their target price on Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Stifel Nicolaus raised their price target on Zoom Video Communications from $70.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, The Goldman Sachs Group boosted their price objective on shares of Zoom Video Communications from $72.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $85.19.

Zoom Video Communications Stock Performance

NASDAQ:ZM opened at $82.69 on Friday. The firm 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, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The firm has a 50-day simple moving average of $75.22 and a two-hundred day simple moving average of $66.30.

Insider Activity at Zoom Video Communications

In other news, CAO Shane Crehan sold 1,550 shares of Zoom Video Communications stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $103,648.50. Following the completion of the sale, the chief accounting officer now directly owns 1,463 shares in the company, valued at $97,830.81. The trade was a 51.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Aparna Bawa sold 880 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $68.09, for a total transaction of $59,919.20. Following the transaction, the chief operating officer now owns 2,809 shares in the company, valued at approximately $191,264.81. This trade represents a 23.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 367,108 shares of company stock valued at $26,796,191 over the last 90 days. Corporate insiders own 10.78% of the company’s stock.

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.