Lindbrook Capital LLC Sells 1,531 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Lindbrook Capital LLC lowered its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 60.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 999 shares of the company’s stock after selling 1,531 shares during the quarter. Lindbrook Capital LLC’s holdings in Zoom Video Communications were worth $72,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. abrdn plc increased its position in shares of Zoom Video Communications by 103.9% during the fourth quarter. abrdn plc now owns 90,119 shares of the company’s stock valued at $6,480,000 after buying an additional 45,912 shares during the period. Xponance Inc. increased its position in shares of Zoom Video Communications by 2.0% during the fourth quarter. Xponance Inc. now owns 9,279 shares of the company’s stock valued at $667,000 after buying an additional 179 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Zoom Video Communications by 134.7% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 704 shares of the company’s stock valued at $51,000 after buying an additional 404 shares during the period. AM Squared Ltd grew its holdings in 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. Finally, Rakuten Securities Inc. purchased a new stake in Zoom Video Communications in the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Stock Up 0.0 %

Shares of Zoom Video Communications stock opened at $61.65 on Thursday. The company has a market cap of $18.96 billion, a price-to-earnings ratio of 30.22 and a beta of -0.07. The company’s 50 day moving average is $64.63 and its 200 day moving average is $65.84. Zoom Video Communications, Inc. has a twelve month low of $58.87 and a twelve month high of $75.90.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. Sell-side analysts expect that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ZM shares. JPMorgan Chase & Co. cut their price objective on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. BNP Paribas cut shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price objective on the stock. in a report on Thursday, January 18th. Wedbush restated a “neutral” rating and issued a $80.00 price objective on shares of Zoom Video Communications in a report on Tuesday, February 27th. Piper Sandler upped their price objective on shares of Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Friday, January 12th. Finally, Rosenblatt Securities upgraded shares of Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $77.56.

Insiders Place Their Bets

In other Zoom Video Communications news, COO Aparna Bawa sold 21,968 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $60.18, for a total value of $1,322,034.24. Following the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at $119,036.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Shane Crehan sold 1,931 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total value of $135,170.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Aparna Bawa sold 21,968 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $60.18, for a total transaction of $1,322,034.24. Following the completion of the sale, the chief operating officer now directly owns 1,978 shares of the company’s stock, valued at $119,036.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,224 shares of company stock worth $5,872,091. Company insiders own 11.28% of the company’s stock.

Zoom Video Communications 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.