Swiss National Bank Sells 21,700 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Swiss National Bank trimmed its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 2.8% in the 4th quarter, Holdings Channel reports. The firm owned 745,300 shares of the company’s stock after selling 21,700 shares during the quarter. Swiss National Bank’s holdings in Zoom Video Communications were worth $53,595,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Avory & Company LLC lifted its position in Zoom Video Communications by 4.4% during the fourth quarter. Avory & Company LLC now owns 236,831 shares of the company’s stock valued at $17,031,000 after purchasing an additional 9,940 shares during the last quarter. Kestra Private Wealth Services LLC purchased a new position in shares of Zoom Video Communications during the 4th quarter valued at about $787,000. Van ECK Associates Corp boosted its stake in Zoom Video Communications by 373.7% in the fourth quarter. Van ECK Associates Corp now owns 28,567 shares of the company’s stock worth $2,054,000 after buying an additional 22,537 shares in the last quarter. Intellectus Partners LLC grew its position in Zoom Video Communications by 18.3% during the fourth quarter. Intellectus Partners LLC now owns 11,574 shares of the company’s stock valued at $832,000 after acquiring an additional 1,790 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Zoom Video Communications by 9.3% during the fourth quarter. Russell Investments Group Ltd. now owns 270,245 shares of the company’s stock worth $19,677,000 after acquiring an additional 22,897 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ZM shares. JPMorgan Chase & Co. reduced their target price 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 Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 target price for the company. in a report on Thursday, January 18th. Mizuho decreased their price target on Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Wedbush reissued a “neutral” rating and set a $80.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 27th. Finally, Jefferies Financial Group started coverage on shares of Zoom Video Communications in a report on Tuesday, March 19th. They set a “hold” rating and a $70.00 price target for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $77.56.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $61.82 on Tuesday. The stock has a market cap of $19.01 billion, a price-to-earnings ratio of 30.30 and a beta of -0.05. The business’s fifty day moving average is $64.55 and its 200 day moving average is $65.74. 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 results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. Equities research analysts expect that Zoom Video Communications, Inc. will post 2.15 earnings per share for the current fiscal year.

Insider Transactions at Zoom Video Communications

In other news, COO Aparna Bawa sold 816 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $66.60, for a total transaction of $54,345.60. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at $131,734.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Aparna Bawa sold 816 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $66.60, for a total value of $54,345.60. Following the completion of the transaction, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $131,734.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $61.42, for a total value of $307,529.94. The disclosure for this sale can be found here. Insiders have sold a total of 95,810 shares of company stock valued at $6,025,427 in the last ninety days. 10.78% of the stock is currently owned by corporate insiders.

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.