Dana Investment Advisors Inc. Sells 17,908 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Dana Investment Advisors Inc. cut its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 19.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 72,551 shares of the company’s stock after selling 17,908 shares during the period. Dana Investment Advisors Inc.’s holdings in Zoom Video Communications were worth $5,921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global X Japan Co. Ltd. boosted its holdings in shares of Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after buying an additional 190 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock worth $29,000 after acquiring an additional 258 shares during the period. Avior Wealth Management LLC boosted its stake in shares of 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 acquiring an additional 265 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Zoom Video Communications during the 4th quarter valued at $39,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Zoom Video Communications in the 3rd quarter worth $37,000. 66.54% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Eric S. Yuan sold 118,036 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $79.03, for a total transaction of $9,328,385.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Shane Crehan sold 1,412 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $111,110.28. Following the transaction, the chief accounting officer now directly owns 5,404 shares in the company, valued at $425,240.76. This represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 374,440 shares of company stock worth $29,935,946 in the last three months. 10.78% of the stock is owned by insiders.

Zoom Video Communications Stock Down 0.2 %

Zoom Video Communications stock opened at $75.48 on Friday. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80. The business has a fifty day moving average of $81.46 and a two-hundred day moving average of $77.25. The firm has a market cap of $23.13 billion, a P/E ratio of 25.16, a P/E/G ratio of 5.48 and a beta of 0.26.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Wells Fargo & Company upgraded shares of Zoom Video Communications from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $70.00 to $85.00 in a research report on Tuesday, January 7th. JMP Securities restated a “market perform” rating on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Mizuho lifted their target price on shares of Zoom Video Communications from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Fifteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Zoom Video Communications presently has an average rating of “Hold” and a consensus price target of $90.05.

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.