Federated Hermes Inc. Has $41.20 Million Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Federated Hermes Inc. trimmed its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 12.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 572,874 shares of the company’s stock after selling 77,804 shares during the quarter. Federated Hermes Inc. owned about 0.19% of Zoom Video Communications worth $41,195,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Zoom Video Communications by 134.7% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 704 shares of the company’s stock worth $51,000 after acquiring an additional 404 shares during the period. AM Squared Ltd increased its position in shares of Zoom Video Communications by 325.0% in the fourth quarter. AM Squared Ltd now owns 1,700 shares of the company’s stock worth $122,000 after purchasing an additional 1,300 shares during the period. Rakuten Securities Inc. acquired a new position in Zoom Video Communications in the fourth quarter valued at about $43,000. GraniteShares Advisors LLC bought a new stake in Zoom Video Communications during the fourth quarter worth about $571,000. Finally, Cornercap Investment Counsel Inc. grew its stake in Zoom Video Communications by 138.0% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 29,196 shares of the company’s stock worth $2,099,000 after buying an additional 16,927 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Price Performance

ZM opened at $59.45 on Friday. Zoom Video Communications, Inc. has a fifty-two week low of $58.87 and a fifty-two week high of $75.90. The company’s 50 day moving average price is $64.82 and its two-hundred day moving average price is $65.95. The firm has a market capitalization of $18.28 billion, a price-to-earnings ratio of 29.14 and a beta of -0.07.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Monday, February 26th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Zoom Video Communications had a return on equity of 9.68% and a net margin of 14.08%. As a group, equities research analysts predict that Zoom Video Communications, Inc. will post 2.15 EPS for the current year.

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 27,963 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total value of $1,733,146.74. Following the transaction, the chief executive officer now directly owns 95,140 shares of the company’s stock, valued at $5,896,777.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Zoom Video Communications news, CEO Eric S. Yuan sold 27,963 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $61.98, for a total value of $1,733,146.74. Following the transaction, the chief executive officer now owns 95,140 shares in the company, valued at $5,896,777.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kelly Steckelberg sold 5,007 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $59.36, for a total value of $297,215.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,256 shares of company stock valued at $4,550,057. 11.28% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ZM has been the subject of several analyst reports. Mizuho dropped their target price on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Jefferies Financial Group started coverage on Zoom Video Communications in a research note on Tuesday, March 19th. They set a “hold” rating and a $70.00 target price for the company. JPMorgan Chase & Co. decreased their price target on Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Zoom Video Communications in a research report on Tuesday, February 27th. Finally, Piper Sandler lifted their target price on Zoom Video Communications from $69.00 to $72.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and a consensus price target of $77.56.

About Zoom Video Communications

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.