Motley Fool Asset Management LLC Lowers Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Motley Fool Asset Management LLC decreased its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) by 3.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,428 shares of the company’s stock after selling 263 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Zoom Video Communications were worth $871,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. National Bank of Canada FI bought a new position in Zoom Video Communications during the 4th quarter worth about $1,089,000. New York State Teachers Retirement System acquired a new stake in shares of Zoom Video Communications during the 4th quarter worth approximately $129,000. Van ECK Associates Corp grew its stake in Zoom Video Communications by 7.1% in the 4th quarter. Van ECK Associates Corp now owns 13,113 shares of the company’s stock valued at $2,412,000 after acquiring an additional 872 shares during the period. Amplius Wealth Advisors LLC acquired a new stake in Zoom Video Communications in the 4th quarter valued at $40,000. Finally, BerganKDV Wealth Management LLC lifted its holdings in Zoom Video Communications by 144.4% in the 4th quarter. BerganKDV Wealth Management LLC now owns 154 shares of the company’s stock valued at $28,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 55.94% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ZM shares. BTIG Research reduced their price objective on shares of Zoom Video Communications from $180.00 to $150.00 in a report on Friday, May 13th. Piper Sandler boosted their price objective on Zoom Video Communications from $96.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday, July 13th. Barclays cut their price target on Zoom Video Communications from $150.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, May 19th. Royal Bank of Canada dropped their price objective on Zoom Video Communications from $200.00 to $150.00 in a report on Tuesday, May 24th. Finally, The Goldman Sachs Group lowered their target price on Zoom Video Communications from $163.00 to $142.00 and set a “neutral” rating on the stock in a report on Tuesday, May 24th. Fourteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $161.53.

Zoom Video Communications Stock Up 5.6 %

Shares of ZM stock opened at $105.91 on Thursday. The stock has a market cap of $31.60 billion, a P/E ratio of 25.71, a P/E/G ratio of 4.35 and a beta of -0.60. The business has a fifty day simple moving average of $108.32 and a 200-day simple moving average of $117.15. Zoom Video Communications, Inc. has a fifty-two week low of $79.03 and a fifty-two week high of $404.35.

Zoom Video Communications (NASDAQ:ZMGet Rating) last released its quarterly earnings results on Monday, May 23rd. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.35 by $0.12. Zoom Video Communications had a return on equity of 16.56% and a net margin of 29.91%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company posted $0.97 EPS. Zoom Video Communications’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, sell-side analysts anticipate that Zoom Video Communications, Inc. will post 1.75 earnings per share for the current year.

Insider Activity at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 6,700 shares of the stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $102.00, for a total transaction of $683,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Kelly Steckelberg sold 6,700 shares of the stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $102.00, for a total value of $683,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Aparna Bawa sold 2,404 shares of the firm’s stock in a transaction on Friday, May 13th. The shares were sold at an average price of $95.04, for a total value of $228,476.16. Following the sale, the chief operating officer now directly owns 84,260 shares of the company’s stock, valued at $8,008,070.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,223 shares of company stock valued at $5,102,171. Company insiders own 11.24% of the company’s stock.

Zoom Video Communications Profile

(Get Rating)

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.

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