Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lessened its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 25.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,885 shares of the company’s stock after selling 960 shares during the period. First Trust Direct Indexing L.P.’s holdings in Zoom Video Communications were worth $207,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avory & Company LLC boosted its holdings in shares of Zoom Video Communications by 4.4% in the 4th quarter. Avory & Company LLC now owns 236,831 shares of the company’s stock valued at $17,031,000 after buying an additional 9,940 shares in the last quarter. Kestra Private Wealth Services LLC acquired a new position in shares of Zoom Video Communications in the 4th quarter valued at $787,000. Van ECK Associates Corp boosted its holdings in shares of Zoom Video Communications by 373.7% in the 4th quarter. Van ECK Associates Corp now owns 28,567 shares of the company’s stock valued at $2,054,000 after buying an additional 22,537 shares in the last quarter. Intellectus Partners LLC boosted its holdings in shares of Zoom Video Communications by 18.3% in the 4th quarter. Intellectus Partners LLC now owns 11,574 shares of the company’s stock valued at $832,000 after buying an additional 1,790 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Zoom Video Communications by 9.3% in the 4th quarter. Russell Investments Group Ltd. now owns 270,245 shares of the company’s stock valued at $19,677,000 after buying an additional 22,897 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Zoom Video Communications Trading Down 1.5 %

ZM stock opened at $61.23 on Thursday. Zoom Video Communications, Inc. has a twelve month low of $58.87 and a twelve month high of $75.90. The company has a market capitalization of $18.83 billion, a P/E ratio of 30.01 and a beta of -0.05. The firm has a 50 day simple moving average of $64.43 and a 200-day simple moving average of $65.74.

Zoom Video Communications (NASDAQ:ZM) last released its quarterly earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. On average, research analysts predict that Zoom Video Communications, Inc. will post 2.15 EPS for the current year.

Insiders Place Their Bets

In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,553 shares of Zoom Video Communications stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $70.00, for a total value of $108,710.00. Following the completion of the transaction, the insider now owns 71,956 shares of the company’s stock, valued at $5,036,920. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 1,553 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $70.00, for a total value of $108,710.00. Following the sale, the insider now directly owns 71,956 shares in the company, valued at $5,036,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Shane Crehan sold 1,931 shares of the firm’s 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 disclosure for this sale can be found here. Insiders sold a total of 98,230 shares of company stock valued at $6,175,032 over the last 90 days. 10.78% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wedbush restated a “neutral” rating and issued a $80.00 target price on shares of Zoom Video Communications 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 target on the stock. in a research note on Thursday, January 18th. Piper Sandler upped their price target on shares of Zoom Video Communications from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. Jefferies Financial Group started coverage on shares of Zoom Video Communications in a research note on Tuesday, March 19th. They set a “hold” rating and a $70.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price target on shares of 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. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Zoom Video Communications has a consensus rating of “Hold” and an average price target of $77.56.

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.