Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC decreased its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) by 18.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,154 shares of the company’s stock after selling 2,800 shares during the period. Verition Fund Management LLC’s holdings in Zoom Video Communications were worth $1,425,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. BlackRock Inc. grew its stake in shares of Zoom Video Communications by 3.0% in the 1st quarter. BlackRock Inc. now owns 10,688,031 shares of the company’s stock worth $1,252,959,000 after purchasing an additional 307,766 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Zoom Video Communications by 61.0% in the 1st quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock worth $756,052,000 after purchasing an additional 2,444,294 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Zoom Video Communications by 22.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,242,357 shares of the company’s stock worth $614,562,000 after purchasing an additional 973,841 shares during the last quarter. State Street Corp grew 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 worth $876,867,000 after purchasing an additional 83,580 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. grew 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 worth $544,739,000 after purchasing an additional 963,858 shares during the last quarter. Institutional investors and hedge funds own 52.86% of the company’s stock.

Insider Activity

In other news, COO Aparna Bawa sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $116.62, for a total value of $233,240.00. Following the sale, the chief operating officer now directly owns 77,676 shares of the company’s stock, valued at $9,058,575.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Aparna Bawa sold 2,000 shares of Zoom Video Communications stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $116.62, for a total transaction of $233,240.00. Following the sale, the chief operating officer now directly owns 77,676 shares of the company’s stock, valued at $9,058,575.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kelly Steckelberg sold 6,700 shares of Zoom Video Communications stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $112.04, for a total value of $750,668.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,823 shares of company stock valued at $3,526,086. 11.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Mizuho lowered their price objective on shares of Zoom Video Communications from $190.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, August 23rd. BTIG Research cut shares of Zoom Video Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 23rd. Morgan Stanley decreased their target price on shares of Zoom Video Communications from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, August 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Zoom Video Communications from $105.00 to $95.00 in a report on Tuesday, August 23rd. Finally, The Goldman Sachs Group decreased their target price on shares of Zoom Video Communications from $142.00 to $122.00 and set a “neutral” rating for the company in a report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $139.58.

Zoom Video Communications Stock Down 0.5 %

NASDAQ ZM opened at $78.32 on Tuesday. The company has a 50 day moving average price of $96.66 and a two-hundred day moving average price of $103.88. Zoom Video Communications, Inc. has a 12-month low of $76.75 and a 12-month high of $291.31. The stock has a market capitalization of $23.31 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 4.33 and a beta of -0.49.

Zoom Video Communications (NASDAQ:ZMGet Rating) last announced its earnings results on Monday, August 22nd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.94 by $0.11. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. Zoom Video Communications had a net margin of 23.05% and a return on equity of 11.87%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. As a group, equities analysts anticipate that Zoom Video Communications, Inc. will post 1.3 EPS for the current year.

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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