DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Sells 81,066 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main cut its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 52.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,331 shares of the company’s stock after selling 81,066 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Zoom Video Communications were worth $6,066,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ZM. Merit Financial Group LLC purchased a new position in shares of Zoom Video Communications in the fourth quarter worth $1,072,000. Swedbank AB increased its holdings in Zoom Video Communications by 96.3% in the 4th quarter. Swedbank AB now owns 82,247 shares of the company’s stock worth $6,712,000 after buying an additional 40,351 shares in the last quarter. Asset Management One Co. Ltd. raised its position in Zoom Video Communications by 8.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 93,872 shares of the company’s stock worth $7,868,000 after buying an additional 7,518 shares during the last quarter. Silver Lake Advisory LLC lifted its stake in Zoom Video Communications by 13.3% during the 4th quarter. Silver Lake Advisory LLC now owns 40,325 shares of the company’s stock valued at $3,291,000 after acquiring an additional 4,745 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Zoom Video Communications by 126.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company’s stock valued at $102,119,000 after acquiring an additional 699,625 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insiders Place Their Bets

In other news, COO Aparna Bawa sold 16,099 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $72.59, for a total transaction of $1,168,626.41. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $143,583.02. This represents a 89.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Velchamy Sankarlingam sold 11,839 shares of the business’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $71.91, for a total transaction of $851,342.49. Following the completion of the sale, the insider now owns 125,529 shares in the company, valued at $9,026,790.39. This represents a 8.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 164,515 shares of company stock worth $12,132,994 in the last 90 days. 11.51% of the stock is currently owned by corporate insiders.

Zoom Video Communications Stock Performance

ZM stock opened at $81.31 on Friday. The company’s fifty day moving average price is $74.34 and its 200-day moving average price is $79.19. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The company has a market capitalization of $24.82 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $87.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Barclays lowered their price target on Zoom Video Communications from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. UBS Group dropped their price target on Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $90.00 target price on shares of Zoom Video Communications in a research report on Thursday. Fifteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $85.90.

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.