Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by CloudAlpha Capital Management Limited Hong Kong

CloudAlpha Capital Management Limited Hong Kong decreased its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 90.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 504,900 shares of the company’s stock after selling 5,032,461 shares during the period. Zoom Video Communications comprises 3.3% of CloudAlpha Capital Management Limited Hong Kong’s holdings, making the stock its 6th largest holding. CloudAlpha Capital Management Limited Hong Kong owned approximately 0.17% of Zoom Video Communications worth $36,307,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of Zoom Video Communications by 63.3% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 294 shares of the company’s stock worth $34,000 after acquiring an additional 114 shares during the last quarter. Neo Ivy Capital Management lifted its stake in Zoom Video Communications by 56.8% in the 2nd quarter. Neo Ivy Capital Management now owns 367 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares during the last quarter. Covestor Ltd lifted its stake in Zoom Video Communications by 76.7% in the 1st quarter. Covestor Ltd now owns 394 shares of the company’s stock valued at $46,000 after purchasing an additional 171 shares during the last quarter. MML Investors Services LLC boosted its position in Zoom Video Communications by 1.8% in the first quarter. MML Investors Services LLC now owns 9,550 shares of the company’s stock valued at $705,000 after buying an additional 173 shares in the last quarter. Finally, Harbour Investments Inc. grew its stake in shares of Zoom Video Communications by 7.4% during the third quarter. Harbour Investments Inc. now owns 2,535 shares of the company’s stock worth $177,000 after buying an additional 175 shares during the last quarter. 66.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ZM has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on Zoom Video Communications in a research note on Tuesday, March 19th. They issued a “hold” rating and a $70.00 price objective for the company. Piper Sandler lifted their price target 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. 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. Mizuho lowered their target price on 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. Finally, Wells Fargo & Company lowered Zoom Video Communications from an “equal weight” rating to an “underweight” rating and set a $70.00 price target on the stock. in a research report on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $77.56.

Zoom Video Communications Stock Performance

Shares of Zoom Video Communications stock traded down $0.20 during mid-day trading on Wednesday, hitting $59.08. 2,033,299 shares of the stock were exchanged, compared to its average volume of 3,330,789. Zoom Video Communications, Inc. has a 12 month low of $58.87 and a 12 month high of $75.90. The company has a 50-day simple moving average of $65.12 and a 200 day simple moving average of $66.12. The company has a market capitalization of $18.17 billion, a P/E ratio of 29.04 and a beta of -0.07.

Zoom Video Communications (NASDAQ:ZM) last announced its earnings results on Monday, February 26th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.34. The firm had revenue of $1.15 billion during 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%. Analysts predict that Zoom Video Communications, Inc. will post 2.15 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Eric S. Yuan sold 27,963 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 95,140 shares in the company, valued at approximately $5,896,777.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Eric S. Yuan sold 27,963 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $61.98, for a total value of $1,733,146.74. Following the completion of the transaction, the chief executive officer now directly owns 95,140 shares in the company, valued at $5,896,777.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Velchamy Sankarlingam sold 3,791 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $62.97, for a total transaction of $238,719.27. Following the sale, the insider now directly owns 91,721 shares in the company, valued at approximately $5,775,671.37. The disclosure for this sale can be found here. Insiders sold 85,456 shares of company stock valued at $5,539,710 over the last ninety days. 11.28% of the stock is currently owned by insiders.

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.