Boston Partners Trims Stock Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Boston Partners cut its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 28.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,424 shares of the company’s stock after selling 2,496 shares during the period. Boston Partners’ holdings in Zoom Video Communications were worth $524,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ZM. Global X Japan Co. Ltd. increased its stake in Zoom Video Communications by 127.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock valued at $28,000 after purchasing an additional 190 shares during the period. Avior Wealth Management LLC increased its stake in 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. Parkside Financial Bank & Trust increased its stake in Zoom Video Communications by 277.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 258 shares during the period. Truvestments Capital LLC acquired a new position in Zoom Video Communications in the third quarter valued at $37,000. Finally, Geneos Wealth Management Inc. acquired a new position in Zoom Video Communications in the fourth quarter valued at $39,000. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Price Performance

Shares of NASDAQ ZM opened at $75.97 on Friday. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The company has a market capitalization of $23.19 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. The firm’s 50-day moving average is $79.98 and its two-hundred day moving average is $77.88.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Scotiabank dropped their price objective on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Monday, March 17th. Barclays dropped their price target on shares of Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Citigroup dropped their price target on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Mizuho boosted their price target on shares of Zoom Video Communications from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Finally, The Goldman Sachs Group boosted their price target on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Fifteen 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 stock. According to data from MarketBeat, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus price target of $89.33.

Insider Activity at Zoom Video Communications

In related news, CAO Shane Crehan sold 1,412 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $111,110.28. Following the transaction, the chief accounting officer now owns 5,404 shares of the company’s stock, valued at approximately $425,240.76. This represents a 20.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Aparna Bawa sold 9,317 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total transaction of $733,154.73. Following the transaction, the chief operating officer now directly owns 14,053 shares in the company, valued at $1,105,830.57. The trade was a 39.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 369,271 shares of company stock valued at $29,496,892. Company insiders own 10.78% of the company’s stock.

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.