Harel Insurance Investments & Financial Services Ltd. Sells 264 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Harel Insurance Investments & Financial Services Ltd. reduced its stake in Zoom Video Communications, Inc. (NASDAQ:ZM) by 10.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,357 shares of the company’s stock after selling 264 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Zoom Video Communications were worth $172,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. AM Squared Ltd bought a new stake in Zoom Video Communications during the 3rd quarter worth about $28,000. Money Concepts Capital Corp boosted its holdings in Zoom Video Communications by 821.2% in the 4th quarter. Money Concepts Capital Corp now owns 479 shares of the company’s stock valued at $32,000 after purchasing an additional 427 shares during the period. Global Wealth Management Investment Advisory Inc. boosted its holdings in Zoom Video Communications by 63.3% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Allworth Financial LP boosted its holdings in Zoom Video Communications by 101.4% in the 3rd quarter. Allworth Financial LP now owns 560 shares of the company’s stock valued at $39,000 after purchasing an additional 282 shares during the period. Finally, Neo Ivy Capital Management boosted its holdings in Zoom Video Communications by 56.8% in the 2nd quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares during the period. 66.54% of the stock is owned by institutional investors.

Insider Buying and Selling at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 1,553 shares of Zoom Video Communications stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $108,710.00. Following the completion of the transaction, the insider now directly owns 71,956 shares in the company, valued at $5,036,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Shane Crehan sold 1,931 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total transaction of $135,170.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Velchamy Sankarlingam sold 1,553 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total transaction of $108,710.00. Following the transaction, the insider now owns 71,956 shares in the company, valued at $5,036,920. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,456 shares of company stock valued at $5,539,710. Corporate insiders own 11.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Rosenblatt Securities reissued a “neutral” rating and issued a $75.00 price objective on shares of Zoom Video Communications in a report on Tuesday, March 26th. Piper Sandler increased their price objective on shares of Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday, January 12th. BNP Paribas downgraded shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price objective for the company. in a research note on Thursday, January 18th. Mizuho dropped their price objective on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Finally, Wells Fargo & Company downgraded shares of Zoom Video Communications from an “equal weight” rating to an “underweight” rating and set a $70.00 price target for the company. in a research note on Wednesday, December 20th. Two equities 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $77.56.

Zoom Video Communications Trading Down 2.3 %

ZM opened at $60.24 on Tuesday. Zoom Video Communications, Inc. has a 1-year low of $58.87 and a 1-year high of $75.90. The company has a market cap of $18.53 billion, a P/E ratio of 29.53 and a beta of -0.07. The company has a fifty day moving average price of $65.21 and a two-hundred day moving average price of $66.19.

Zoom Video Communications (NASDAQ:ZM) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.34. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. On average, research analysts forecast that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

Zoom Video Communications Company Profile

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.