Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its position in Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) by 57.4% in the first quarter, HoldingsChannel.com reports. The firm owned 123,340 shares of the company’s stock after selling 166,254 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Zoom Video Communications were worth $14,459,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Zoom Video Communications by 22.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,242,357 shares of the company’s stock worth $614,562,000 after acquiring an additional 973,841 shares during the last quarter. State Street Corp raised its stake in shares of Zoom Video Communications by 1.8% in the 4th quarter. State Street Corp now owns 4,767,911 shares of the company’s stock valued at $876,867,000 after acquiring an additional 83,580 shares in the last quarter. Nikko Asset Management Americas Inc. raised its stake in shares of Zoom Video Communications by 26.3% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,632,137 shares of the company’s stock valued at $544,739,000 after acquiring an additional 963,858 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Zoom Video Communications by 93.6% in the 1st quarter. Fisher Asset Management LLC now owns 4,400,598 shares of the company’s stock valued at $515,882,000 after acquiring an additional 2,127,054 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Zoom Video Communications by 24.5% in the 4th quarter. Renaissance Technologies LLC now owns 4,005,012 shares of the company’s stock valued at $736,562,000 after acquiring an additional 789,132 shares in the last quarter. Institutional investors own 55.94% of the company’s stock.

Zoom Video Communications Stock Up 0.9 %

Shares of ZM stock opened at $113.85 on Friday. The company’s fifty day simple moving average is $109.90 and its 200-day simple moving average is $114.41. The firm has a market cap of $33.97 billion, a PE ratio of 27.63, a P/E/G ratio of 4.63 and a beta of -0.61. Zoom Video Communications, Inc. has a 12 month low of $79.03 and a 12 month high of $395.00.

Zoom Video Communications (NASDAQ:ZMGet Rating) last issued its earnings results on Monday, May 23rd. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.12. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Zoom Video Communications had a net margin of 29.91% and a return on equity of 16.56%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 earnings per share. On average, equities analysts predict that Zoom Video Communications, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zoom Video Communications news, COO Aparna Bawa sold 2,404 shares of the company’s stock in a transaction on Friday, May 13th. The shares were sold at an average price of $95.04, for a total value of $228,476.16. Following the transaction, the chief operating officer now directly owns 84,260 shares in the company, valued at $8,008,070.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 2,319 shares of the company’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $109.79, for a total value of $254,603.01. Following the transaction, the insider now directly owns 10,863 shares in the company, valued at $1,192,648.77. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Aparna Bawa sold 2,404 shares of the company’s stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $95.04, for a total transaction of $228,476.16. Following the completion of the transaction, the chief operating officer now owns 84,260 shares in the company, valued at $8,008,070.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,923 shares of company stock worth $5,803,973. Insiders own 11.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ZM. Benchmark raised their price objective on Zoom Video Communications from $124.00 to $128.00 and gave the company a “buy” rating in a research note on Tuesday, May 24th. Barclays dropped their price target on Zoom Video Communications from $150.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 19th. Stifel Nicolaus dropped their price target on Zoom Video Communications from $150.00 to $120.00 in a research report on Tuesday, May 24th. Citigroup dropped their price target on Zoom Video Communications from $118.00 to $99.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Zoom Video Communications from $155.00 to $105.00 in a research report on Tuesday, May 24th. Fourteen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.62.

Zoom Video Communications Company Profile

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

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