Ensign Peak Advisors Inc Has $49.11 Million Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Ensign Peak Advisors Inc cut its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 4.4% in the 4th quarter, HoldingsChannel reports. The fund owned 601,726 shares of the company’s stock after selling 27,927 shares during the period. Ensign Peak Advisors Inc’s holdings in Zoom Video Communications were worth $49,107,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Adero Partners LLC boosted its stake in Zoom Video Communications by 2.4% in the fourth quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock valued at $450,000 after acquiring an additional 129 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Zoom Video Communications by 27.1% in the fourth quarter. GAMMA Investing LLC now owns 770 shares of the company’s stock worth $63,000 after purchasing an additional 164 shares during the period. Principal Securities Inc. raised its holdings in shares of Zoom Video Communications by 26.9% in the 4th quarter. Principal Securities Inc. now owns 783 shares of the company’s stock valued at $64,000 after acquiring an additional 166 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Zoom Video Communications by 4.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company’s stock valued at $330,000 after purchasing an additional 168 shares during the last quarter. Finally, Global X Japan Co. Ltd. lifted its holdings in shares of Zoom Video Communications by 127.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 339 shares of the company’s stock worth $28,000 after acquiring an additional 190 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ZM. Morgan Stanley reduced their target price on shares of Zoom Video Communications from $96.00 to $73.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Scotiabank cut their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Monday, March 17th. Mizuho reduced their target price on Zoom Video Communications from $105.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. UBS Group lowered their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a report on Tuesday, February 25th. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $85.90.

Insiders Place Their Bets

In other Zoom Video Communications news, COO Aparna Bawa sold 16,099 shares of the firm’s 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 owns 1,978 shares in the company, valued at $143,583.02. This trade represents a 89.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Santiago Subotovsky sold 2,475 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $78.82, for a total value of $195,079.50. Following the sale, the director now directly owns 157,824 shares in the company, valued at $12,439,687.68. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,515 shares of company stock worth $12,132,994. Corporate insiders own 11.51% of the company’s stock.

Zoom Video Communications Trading Up 1.3 %

Zoom Video Communications stock opened at $81.31 on Friday. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The firm has a market capitalization of $24.82 billion, a price-to-earnings ratio of 27.10, a P/E/G ratio of 5.48 and a beta of 0.79. The firm has a 50 day moving average of $74.34 and a 200 day moving average of $79.19.

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.