Cresset Asset Management LLC Cuts Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Cresset Asset Management LLC decreased its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 34.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,313 shares of the company’s stock after selling 7,547 shares during the quarter. Cresset Asset Management LLC’s holdings in Zoom Video Communications were worth $1,168,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Global X Japan Co. Ltd. lifted its position in Zoom Video Communications by 127.5% during 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 lifted its position in Zoom Video Communications by 291.2% during 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 lifted its position in Zoom Video Communications by 277.4% during 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. Geneos Wealth Management Inc. bought a new position in Zoom Video Communications during the fourth quarter valued at approximately $39,000. Finally, MRP Capital Investments LLC lifted its position in Zoom Video Communications by 500.0% during the fourth quarter. MRP Capital Investments LLC now owns 600 shares of the company’s stock valued at $49,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Activity at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 41,121 shares of the firm’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $72.18, for a total transaction of $2,968,113.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of Zoom Video Communications stock in a transaction on Monday, May 5th. The stock was sold at an average price of $78.82, for a total transaction of $195,079.50. Following the completion of the transaction, the director now directly owns 157,824 shares of the company’s stock, valued at $12,439,687.68. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,515 shares of company stock valued at $12,132,994. Corporate insiders own 11.51% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on ZM shares. Citigroup lowered their price objective on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Stifel Nicolaus decreased their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. UBS Group decreased their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Finally, Morgan Stanley decreased their price target on shares of Zoom Video Communications from $96.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Fifteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and an average price target of $85.90.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $81.31 on Monday. The company has a market capitalization of $24.82 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 5.48 and a beta of 0.79. The company’s fifty day moving average price is $74.34 and its 200-day moving average price is $79.29. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

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.