Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 10.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,935 shares of the company’s stock after selling 41,943 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Zoom Video Communications were worth $29,129,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC boosted its stake in shares of Zoom Video Communications by 449.4% in the third quarter. HighTower Advisors LLC now owns 63,618 shares of the company’s stock valued at $4,429,000 after purchasing an additional 52,039 shares during the period. Merit Financial Group LLC purchased a new position in Zoom Video Communications in the 4th quarter valued at approximately $1,072,000. State Street Corp grew its stake in shares of Zoom Video Communications by 2.3% in the third quarter. State Street Corp now owns 6,106,293 shares of the company’s stock worth $425,853,000 after acquiring an additional 134,559 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Zoom Video Communications by 202.8% during the fourth quarter. Nordea Investment Management AB now owns 779,051 shares of the company’s stock worth $64,054,000 after acquiring an additional 521,778 shares during the period. Finally, Tri Ri Asset Management Corp acquired a new stake in shares of Zoom Video Communications in the third quarter valued at $2,676,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZM has been the topic of several recent research reports. Morgan Stanley upped their price target on Zoom Video Communications from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Jefferies Financial Group upgraded 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 research note on Thursday, December 19th. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Stifel Nicolaus decreased their price objective on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $95.00 target price on shares of Zoom Video Communications in a research note on Wednesday, March 19th. Fifteen equities research analysts have rated the stock with a hold rating, eight have given 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 target price of $89.33.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 33,751 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $78.69, for a total value of $2,655,866.19. Following the transaction, the chief executive officer now directly owns 34,703 shares of the company’s stock, valued at approximately $2,730,779.07. The trade was a 49.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Aparna Bawa sold 9,317 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the transaction, the chief operating officer now owns 14,053 shares of the company’s stock, valued at approximately $1,105,830.57. The trade was a 39.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 371,746 shares of company stock worth $29,689,595 in the last quarter. Company insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of NASDAQ:ZM opened at $77.78 on Thursday. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80. The stock has a market capitalization of $23.74 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 5.48 and a beta of 0.26. The company has a 50-day simple moving average of $79.90 and a 200-day simple moving average of $78.10.

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.