Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ reduced its holdings in Zoom Video Communications, Inc. (NASDAQ:ZMFree Report) by 23.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 145,678 shares of the company’s stock after selling 45,433 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Zoom Video Communications were worth $10,189,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Zoom Video Communications by 4.5% in the second quarter. BlackRock Inc. now owns 13,418,767 shares of the company’s stock worth $910,866,000 after acquiring an additional 581,711 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Zoom Video Communications by 1.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,454,592 shares of the company’s stock worth $438,138,000 after acquiring an additional 103,152 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Zoom Video Communications by 61.0% in the first quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock worth $756,052,000 after acquiring an additional 2,444,294 shares during the last quarter. Newlands Management Operations LLC boosted its stake in shares of Zoom Video Communications by 343.2% in the second quarter. Newlands Management Operations LLC now owns 5,785,588 shares of the company’s stock worth $392,726,000 after acquiring an additional 4,480,051 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Zoom Video Communications by 3.0% in the second quarter. State Street Corp now owns 5,162,552 shares of the company’s stock worth $350,434,000 after acquiring an additional 151,854 shares during the last quarter. 54.85% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Trading Up 2.8 %

ZM stock opened at $65.70 on Monday. The company has a market capitalization of $20.00 billion, a PE ratio of 90.00, a P/E/G ratio of 1.07 and a beta of -0.08. Zoom Video Communications, Inc. has a 12-month low of $58.87 and a 12-month high of $80.80. The business’s fifty day moving average price is $69.18 and its 200 day moving average price is $67.51.

Zoom Video Communications (NASDAQ:ZMGet Free Report) last issued its quarterly earnings results on Monday, November 20th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.21. Zoom Video Communications had a return on equity of 4.93% and a net margin of 5.21%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the business earned $0.21 EPS. Zoom Video Communications’s revenue was up 3.2% on a year-over-year basis. Research analysts predict that Zoom Video Communications, Inc. will post 2.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on ZM shares. BNP Paribas lowered Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price objective on the stock. in a research note on Thursday, January 18th. Wells Fargo & Company lowered Zoom Video Communications from an “equal weight” rating to an “underweight” rating and set a $70.00 price objective on the stock. in a research note on Wednesday, December 20th. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, November 21st. Piper Sandler boosted their price objective on Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $70.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, November 21st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Zoom Video Communications has an average rating of “Hold” and an average price target of $79.00.

View Our Latest Report on ZM

Insider Activity at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 10,960 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $64.62, for a total value of $708,235.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,571 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $71.98, for a total transaction of $113,080.58. Following the completion of the sale, the insider now directly owns 64,858 shares of the company’s stock, valued at approximately $4,668,478.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kelly Steckelberg sold 10,960 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $64.62, for a total value of $708,235.20. The disclosure for this sale can be found here. Insiders sold a total of 96,830 shares of company stock valued at $6,580,907 in the last three months. 11.28% of the stock is currently owned by company insiders.

Zoom Video Communications Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding ZM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoom Video Communications, Inc. (NASDAQ:ZMFree Report).

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

Receive News & Ratings for Zoom Video Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zoom Video Communications and related companies with MarketBeat.com's FREE daily email newsletter.