Nisa Investment Advisors LLC reduced its stake in Zoom Video Communications, Inc. (NASDAQ:ZM – Get a rating) by 34.2% in the first quarter, HoldingsChannel reports. The company held 11,280 shares of the company after selling 5,857 shares during the period. Nisa Investment Advisors LLC’s holdings in Zoom Video Communications were worth $1,322,000 when it last filed with the SEC.
Other large investors also bought and sold shares of the company. The New York State Teachers’ Retirement System increased its holdings of Zoom Video Communications stock by 442.9% in the first quarter. The New York State Teachers’ Retirement System now owns 3,800 shares of the company valued at $445,000 after purchasing an additional 3,100 shares last quarter. IFM Investors Pty Ltd increased its holdings of Zoom Video Communications shares by 16.7% in the first quarter. IFM Investors Pty Ltd now owns 33,876 shares in the company valued at $3,971,000 after buying an additional 4,847 shares in the last quarter. CNB Bank increased its holdings of Zoom Video Communications shares by 73.9% in the first quarter. CNB Bank now owns 1,676 shares of the company valued at $196,000 after buying an additional 712 shares in the last quarter. Candriam Luxembourg SCA increased its equity stake in Zoom Video Communications by 8.8% during the fourth quarter. Candriam Luxembourg SCA now owns 12,838 shares of the company valued at $2,361,000 after purchasing an additional 1,037 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Zoom Video Communications shares by 95.2% during the fourth quarter. American Century Companies Inc. now owns 28,630 shares of the company valued at $5,265,000 after purchasing an additional 13,963 shares last quarter. 55.94% of the shares are currently held by institutional investors and hedge funds.
Zoom video communications trade down 3.9%
Shares of NASDAQ:ZM opened at $106.55 on Friday. The company has a 50-day moving average of $107.36 and a 200-day moving average of $118.61. The stock has a market capitalization of $31.79 billion, a P/E ratio of 25.86, a P/E/G ratio of 4.39 and a beta of -0.60. Zoom Video Communications, Inc. has a 12-month low of $79.03 and a 12-month high of $404.35.
Zoom Video Communications (NASDAQ:ZM – Get a rating) last released its quarterly earnings data on Monday, May 23. The company reported EPS of $0.47 for the quarter, beating the consensus estimate of $0.35 by $0.12. The company posted revenue of $1.07 billion in the quarter, versus $1.07 billion expected by analysts. Zoom Video Communications achieved a net margin of 29.91% and a return on equity of 16.56%. Zoom Video Communications revenue for the quarter increased 12.3% year over year. In the same quarter of the previous year, the company had earned earnings per share of $0.97. On average, stock analysts expect Zoom Video Communications, Inc. to post 1.75 earnings per share for the current fiscal year.
Insider Activity at Zoom Video Communications
In related news, CFO Kelly Stecklberg sold 6,700 shares of the company in a transaction that took place on Monday, April 25. The shares were sold at an average price of $100.00, for a total transaction of $670,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. In other Zoom Video Communications news, COO Aparna Bawa sold 2,404 shares of the company in a trade that took place on Friday, May 13. The shares were sold at an average price of $95.04, for a total value of $228,476.16. Following the completion of the transaction, the COO now owns 84,260 shares of the company, valued at approximately $8,008,070.40. The transaction was disclosed in an SEC filing, which is available via this link. Also, CFO Kelly Stecklberg sold 6,700 shares of the company in a transaction that took place on Monday, April 25. The stock was sold at an average price of $100.00, for a total transaction of $670,000.00. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 54,923 shares of the company valued at $5,772,171. Company insiders own 11.24% of the company’s shares.
Wall Street analysts predict growth
A number of research analysts have weighed in on ZM shares recently. Benchmark raised its price target on Zoom Video Communications shares from $124.00 to $128.00 and gave the company a “buy” rating in a Tuesday, May 24 research report. Goldman Sachs Group lowered its price target on Zoom Video Communications shares from $163.00 to $142.00 and set a “neutral” rating on the stock in a Tuesday, May 24 research report. Exane BNP Paribas began covering Zoom Video Communications shares in a research report on Tuesday, March 29. They set a “neutral” rating and a price target of $110.00 on the stock. Barclays lowered its price target on Zoom Video Communications shares from $150.00 to $90.00 and set an “equal weight” rating on the stock in a Thursday, May 19 research report. Finally, BNP Paribas began covering Zoom Video Communications shares in a research report on Tuesday, March 29. They set a “neutral” rating and a price target of $110.00 on the stock. Fourteen investment analysts gave the stock a hold rating and thirteen gave the company a buy rating. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $161.53.
Zoom Video Communication Profile
Zoom Video Communications, Inc provides a unified communications platform in the Americas, Asia-Pacific, Europe, Middle East and Africa. The company offers Zoom Meetings which offers HD video, voice, chat and content sharing through mobile devices, desktops, laptops, phones and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat allows users to share messages, images, audio files and content across desktops, laptops, tablets and mobile devices.
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