CoreCap Advisors LLC Sells 141 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

CoreCap Advisors LLC cut its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 15.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 758 shares of the company’s stock after selling 141 shares during the period. CoreCap Advisors LLC’s holdings in Zoom Video Communications were worth $62,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Adero Partners LLC boosted its stake in shares of Zoom Video Communications by 2.4% during the 4th quarter. Adero Partners LLC now owns 5,509 shares of the company’s stock worth $450,000 after purchasing an additional 129 shares during the period. Principal Securities Inc. boosted its stake in shares of Zoom Video Communications by 26.9% during the 4th quarter. Principal Securities Inc. now owns 783 shares of the company’s stock worth $64,000 after purchasing an additional 166 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Zoom Video Communications by 4.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,040 shares of the company’s stock worth $330,000 after purchasing an additional 168 shares during the period. Global X Japan Co. Ltd. boosted its stake 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 purchasing an additional 190 shares during the period. Finally, Wynn Capital LLC boosted its stake in shares of Zoom Video Communications by 2.0% during the 4th quarter. Wynn Capital LLC now owns 10,034 shares of the company’s stock worth $819,000 after purchasing an additional 200 shares during the period. 66.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ZM. Morgan Stanley dropped their price target on shares of Zoom Video Communications from $96.00 to $73.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 price target on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Stifel Nicolaus lowered 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, Citigroup lowered their price objective on shares of Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications has an average rating of “Hold” and an average price target of $85.90.

Insider Activity at Zoom Video Communications

In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $74.98, for a total transaction of $5,663,314.38. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $78.82, for a total transaction of $195,079.50. Following the transaction, the director now owns 157,824 shares in the company, valued at $12,439,687.68. The trade was a 1.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,515 shares of company stock valued at $12,132,994 over the last 90 days. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Up 0.6%

NASDAQ:ZM opened at $83.18 on Wednesday. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The firm has a 50 day moving average of $74.63 and a 200 day moving average of $79.38. The stock has a market capitalization of $25.39 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 5.48 and a beta of 0.79.

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.