Raymond James & Associates Cuts Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Raymond James & Associates reduced its position in Zoom Video Communications, Inc. (NASDAQ:ZM – Get Rating) by 11.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,006 shares of the company’s stock after selling 10,137 shares during the quarter. Raymond James & Associates’ holdings in Zoom Video Communications were worth $5,081,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ZM. Vanguard Group Inc. raised its position in shares of Zoom Video Communications by 23.3% in the third quarter. Vanguard Group Inc. now owns 17,125,004 shares of the company’s stock worth $1,260,230,000 after acquiring an additional 3,241,291 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Zoom Video Communications by 21.3% in the 3rd quarter. Renaissance Technologies LLC now owns 7,800,404 shares of the company’s stock worth $574,032,000 after acquiring an additional 1,371,400 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Zoom Video Communications by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,423,637 shares of the company’s stock worth $435,137,000 after acquiring an additional 82,339 shares during the last quarter. State Street Corp lifted its holdings in Zoom Video Communications by 1.9% during the 3rd quarter. State Street Corp now owns 5,040,839 shares of the company’s stock worth $370,955,000 after buying an additional 92,841 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Zoom Video Communications by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 4,999,498 shares of the company’s stock worth $338,666,000 after buying an additional 59,141 shares in the last quarter. 52.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Aparna Bawa sold 14,000 shares of the business’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $70.93, for a total value of $993,020.00. Following the completion of the transaction, the chief operating officer now directly owns 76,777 shares of the company’s stock, valued at approximately $5,445,792.61. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Zoom Video Communications news, COO Aparna Bawa sold 14,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $70.93, for a total transaction of $993,020.00. Following the sale, the chief operating officer now owns 76,777 shares in the company, valued at approximately $5,445,792.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Shane Crehan sold 11,049 shares of the business’s stock in a transaction dated Thursday, April 13th. The shares were sold at an average price of $68.13, for a total value of $752,768.37. The disclosure for this sale can be found here. In the last three months, insiders sold 103,893 shares of company stock valued at $7,116,654. Insiders own 11.28% of the company’s stock.

Zoom Video Communications Trading Up 2.9 %

NASDAQ ZM opened at $71.41 on Tuesday. Zoom Video Communications, Inc. has a 12 month low of $60.45 and a 12 month high of $124.05. The stock has a market cap of $20.98 billion, a P/E ratio of 223.16, a P/E/G ratio of 3.74 and a beta of -0.22. The stock’s fifty day moving average price is $67.52 and its 200-day moving average price is $71.26.

Zoom Video Communications (NASDAQ:ZM – Get Rating) 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. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. Zoom Video Communications had a return on equity of 2.70% and a net margin of 2.36%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share. As a group, analysts forecast that Zoom Video Communications, Inc. will post 0.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Rosenblatt Securities assumed coverage on shares of Zoom Video Communications in a research note on Thursday, March 23rd. They set a “neutral” rating and a $75.00 price target on the stock. Citigroup upped their price target on shares of Zoom Video Communications from $67.00 to $68.00 and gave the company a “sell” rating in a report on Wednesday, March 1st. Piper Sandler upped their price objective on shares of Zoom Video Communications from $75.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, February 28th. Stifel Nicolaus reduced their price objective on shares of Zoom Video Communications to $75.00 in a research note on Friday, March 3rd. Finally, Mizuho reaffirmed a “buy” rating and set a $100.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 28th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $88.70.

Zoom Video Communications Company Profile

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Zoom Video Communications, Inc engages in the provision of video-first communications platform. The firm offers meetings, chat, rooms and workspaces, phone systems, video webinars, marketplace, and developer platform products. It serves the education, finance, government, and healthcare industries. Its platform helps people to connect through voice, chat, content sharing, and face-to-face video experiences.