Commonwealth Equity Services LLC trimmed its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM – Free Report) by 15.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,101 shares of the company’s stock after selling 6,859 shares during the period. Commonwealth Equity Services LLC’s holdings in Zoom Video Communications were worth $2,739,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the business. Renaissance Technologies LLC grew its position in shares of Zoom Video Communications by 61.0% during the 1st quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock worth $756,052,000 after buying an additional 2,444,294 shares during the period. Norges Bank acquired a new position in Zoom Video Communications during the fourth quarter valued at approximately $98,156,000. Two Sigma Investments LP increased its stake in Zoom Video Communications by 66.6% in the fourth quarter. Two Sigma Investments LP now owns 3,108,252 shares of the company’s stock valued at $210,553,000 after purchasing an additional 1,242,000 shares in the last quarter. Alyeska Investment Group L.P. raised its holdings in Zoom Video Communications by 152.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,211,791 shares of the company’s stock worth $82,087,000 after purchasing an additional 731,681 shares during the period. Finally, Two Sigma Advisers LP boosted its position in shares of Zoom Video Communications by 13.0% during the fourth quarter. Two Sigma Advisers LP now owns 3,071,200 shares of the company’s stock worth $208,043,000 after purchasing an additional 352,500 shares in the last quarter. 54.85% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Zoom Video Communications news, Director Santiago Subotovsky sold 2,067 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $67.80, for a total transaction of $140,142.60. Following the completion of the transaction, the director now directly owns 172,095 shares in the company, valued at $11,668,041. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Kelly Steckelberg sold 10,960 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $68.37, for a total value of $749,335.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Santiago Subotovsky sold 2,067 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $67.80, for a total transaction of $140,142.60. Following the transaction, the director now owns 172,095 shares of the company’s stock, valued at $11,668,041. The disclosure for this sale can be found here. Insiders have sold 79,428 shares of company stock worth $5,551,521 over the last ninety days. Corporate insiders own 11.28% of the company’s stock.
Zoom Video Communications Stock Performance
Zoom Video Communications (NASDAQ:ZM – Get Free Report) last posted its quarterly earnings data on Monday, August 21st. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.28. Zoom Video Communications had a net margin of 3.17% and a return on equity of 3.51%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the firm posted $0.28 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities research analysts predict that Zoom Video Communications, Inc. will post 1.71 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research firms have issued reports on ZM. Sanford C. Bernstein decreased their target price on Zoom Video Communications from $92.00 to $82.00 and set a “market perform” rating for the company in a research note on Tuesday, August 22nd. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Zoom Video Communications in a report on Wednesday, August 23rd. Moffett Nathanson raised shares of Zoom Video Communications from an “underperform” rating to a “market perform” rating and set a $85.00 target price for the company in a research note on Tuesday, May 23rd. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research note on Tuesday, August 22nd. Finally, Robert W. Baird decreased their price objective on Zoom Video Communications from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $82.05.
View Our Latest Research Report on ZM
About Zoom Video Communications
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.
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