Signaturefd LLC Trims Stock Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Posted by Defense World Staff on Jul 24th, 2023

Signaturefd LLC trimmed its position in Zoom Video Communications, Inc. (NASDAQ:ZM – Free Report) by 9.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,279 shares of the company’s stock after selling 226 shares during the period. Signaturefd LLC’s holdings in Zoom Video Communications were worth $168,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AlphaCrest Capital Management LLC grew its stake in shares of Zoom Video Communications by 17.4% in the first quarter. AlphaCrest Capital Management LLC now owns 3,150 shares of the company’s stock worth $369,000 after acquiring an additional 466 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Zoom Video Communications in the first quarter worth $1,652,000. Panagora Asset Management Inc. grew its stake in shares of Zoom Video Communications by 45.5% in the first quarter. Panagora Asset Management Inc. now owns 10,985 shares of the company’s stock worth $1,288,000 after acquiring an additional 3,434 shares during the last quarter. Cibc World Market Inc. grew its stake in shares of Zoom Video Communications by 11.3% in the first quarter. Cibc World Market Inc. now owns 4,364 shares of the company’s stock worth $512,000 after acquiring an additional 442 shares during the last quarter. Finally, Prudential PLC purchased a new stake in shares of Zoom Video Communications in the first quarter worth $263,000. 53.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Moffett Nathanson raised Zoom Video Communications from an “underperform” rating to a “market perform” rating and set a $85.00 target price on the stock in a research note on Tuesday, May 23rd. Piper Sandler lowered their price target on Zoom Video Communications from $78.00 to $76.00 in a report on Tuesday, May 23rd. Finally, Evercore ISI lowered their price target on Zoom Video Communications from $85.00 to $75.00 in a report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $83.00.

Zoom Video Communications Stock Up 1.8 %

NASDAQ ZM opened at $71.03 on Monday. The stock’s 50-day moving average price is $68.26 and its 200-day moving average price is $69.55. Zoom Video Communications, Inc. has a 52 week low of $60.45 and a 52 week high of $119.82. The company has a market capitalization of $21.13 billion, a P/E ratio of 165.19, a price-to-earnings-growth ratio of 2.17 and a beta of -0.22.

Zoom Video Communications (NASDAQ:ZM – Get Free Report) last posted its quarterly earnings data on Monday, May 22nd. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.99 by $0.17. Zoom Video Communications had a return on equity of 2.33% and a net margin of 0.12%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company earned $0.47 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts anticipate that Zoom Video Communications, Inc. will post 1.31 EPS for the current year.

Insider Transactions at Zoom Video Communications

In related news, Director Santiago Subotovsky sold 2,070 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $68.25, for a total transaction of $141,277.50. Following the completion of the sale, the director now owns 174,162 shares in the company, valued at $11,886,556.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Santiago Subotovsky sold 2,070 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $68.25, for a total transaction of $141,277.50. Following the completion of the sale, the director now owns 174,162 shares in the company, valued at $11,886,556.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kelly Steckelberg sold 3,224 shares of the stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $61.70, for a total value of $198,920.80. The disclosure for this sale can be found here. Insiders have sold 85,653 shares of company stock valued at $5,749,937 over the last quarter. 11.28% of the stock is currently owned by company insiders.

Zoom Video Communications Profile

(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.