Zoom Video Communications, Inc. (NASDAQ:ZM) Stake Cut by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZMFree Report) by 18.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,043 shares of the company’s stock after selling 3,665 shares during the quarter. Principal Financial Group Inc.’s holdings in Zoom Video Communications were worth $1,154,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ZM. Pearl River Capital LLC lifted its stake in Zoom Video Communications by 31.6% in the third quarter. Pearl River Capital LLC now owns 37,190 shares of the company’s stock valued at $2,601,000 after buying an additional 8,928 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Zoom Video Communications by 4.6% during the third quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock valued at $1,587,326,000 after purchasing an additional 1,000,005 shares in the last quarter. Galvin Gaustad & Stein LLC raised its stake in shares of Zoom Video Communications by 25.4% during the fourth quarter. Galvin Gaustad & Stein LLC now owns 328,048 shares of the company’s stock valued at $23,590,000 after purchasing an additional 66,433 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Zoom Video Communications by 556.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 124,088 shares of the company’s stock valued at $8,923,000 after purchasing an additional 105,173 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Zoom Video Communications by 353.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 32,017 shares of the company’s stock valued at $2,302,000 after purchasing an additional 24,953 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors.

Insider Activity

In other Zoom Video Communications news, COO Aparna Bawa sold 816 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $66.60, for a total transaction of $54,345.60. Following the completion of the sale, the chief operating officer now owns 1,978 shares of the company’s stock, valued at $131,734.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Zoom Video Communications news, CEO Eric S. Yuan sold 27,963 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total transaction of $1,733,146.74. Following the completion of the sale, the chief executive officer now owns 95,140 shares of the company’s stock, valued at $5,896,777.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Aparna Bawa sold 816 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $66.60, for a total value of $54,345.60. Following the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at approximately $131,734.80. The disclosure for this sale can be found here. Insiders sold a total of 101,690 shares of company stock worth $6,351,081 in the last three months. 10.78% of the stock is owned by insiders.

Analyst Ratings Changes

ZM has been the topic of a number of recent analyst reports. Evercore ISI cut their price objective on shares of Zoom Video Communications from $72.00 to $70.00 and set an “in-line” rating on the stock in a research note on Tuesday, May 21st. Jefferies Financial Group began coverage on Zoom Video Communications in a report on Tuesday, March 19th. They set a “hold” rating and a $70.00 target price on the stock. Citigroup lifted their target price on Zoom Video Communications from $76.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Wedbush reaffirmed a “neutral” rating and set a $80.00 target price on shares of Zoom Video Communications in a report on Tuesday, February 27th. Finally, Stifel Nicolaus lowered their target price on Zoom Video Communications from $70.00 to $65.00 and set a “hold” rating on the stock in a report on Tuesday, May 21st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $76.18.

View Our Latest Stock Report on ZM

Zoom Video Communications Price Performance

Shares of Zoom Video Communications stock opened at $61.34 on Monday. The firm has a market cap of $18.97 billion, a price-to-earnings ratio of 22.89, a P/E/G ratio of 9.61 and a beta of -0.01. Zoom Video Communications, Inc. has a 52-week low of $58.87 and a 52-week high of $75.90. The stock has a 50-day simple moving average of $62.58 and a 200-day simple moving average of $65.92.

About Zoom Video Communications

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ZM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoom Video Communications, Inc. (NASDAQ:ZMFree Report).

Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

Receive News & Ratings for Zoom Video Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zoom Video Communications and related companies with MarketBeat.com's FREE daily email newsletter.