Commonwealth Equity Services LLC Decreases Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Commonwealth Equity Services LLC lowered its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 9.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,197 shares of the company’s stock after selling 3,974 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Zoom Video Communications were worth $2,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Zoom Video Communications by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 23,417,464 shares of the company’s stock valued at $1,683,950,000 after purchasing an additional 721,923 shares during the last quarter. FIL Ltd increased its stake in shares of Zoom Video Communications by 1.3% during the fourth quarter. FIL Ltd now owns 3,069,797 shares of the company’s stock valued at $220,749,000 after buying an additional 40,456 shares during the period. Acadian Asset Management LLC increased its stake in shares of Zoom Video Communications by 54.8% during the first quarter. Acadian Asset Management LLC now owns 3,046,718 shares of the company’s stock valued at $199,146,000 after buying an additional 1,078,937 shares during the period. Norges Bank bought a new position in shares of Zoom Video Communications during the fourth quarter valued at approximately $164,224,000. Finally, Contrarius Investment Management Ltd lifted its stake in Zoom Video Communications by 31.2% in the fourth quarter. Contrarius Investment Management Ltd now owns 1,164,674 shares of the company’s stock worth $83,752,000 after acquiring an additional 277,257 shares during the period. 66.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on ZM. Sanford C. Bernstein decreased their price objective on shares of Zoom Video Communications from $82.00 to $78.00 and set a “market perform” rating for the company in a report on Tuesday, May 21st. Bank of America lowered their price objective on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research report on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Zoom Video Communications in a research report on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Zoom Video Communications from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and an average target price of $75.10.

Insider Activity at Zoom Video Communications

In other news, insider Velchamy Sankarlingam sold 3,272 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $57.15, for a total value of $186,994.80. Following the transaction, the insider now directly owns 82,792 shares in the company, valued at $4,731,562.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Zoom Video Communications news, insider Velchamy Sankarlingam sold 3,272 shares of Zoom Video Communications stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $57.15, for a total value of $186,994.80. Following the transaction, the insider now owns 82,792 shares in the company, valued at $4,731,562.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Shane Crehan sold 1,550 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $66.87, for a total transaction of $103,648.50. Following the completion of the transaction, the chief accounting officer now owns 1,463 shares of the company’s stock, valued at $97,830.81. The disclosure for this sale can be found here. Insiders sold a total of 120,014 shares of company stock worth $7,070,162 in the last quarter. 10.78% of the stock is owned by company insiders.

Zoom Video Communications Price Performance

Shares of ZM stock opened at $66.55 on Friday. The company has a market cap of $20.48 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 5.90 and a beta of -0.05. The stock’s 50 day simple moving average is $61.50 and its two-hundred day simple moving average is $62.38. Zoom Video Communications, Inc. has a 1 year low of $55.06 and a 1 year high of $74.77.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 earnings per share. Equities research analysts expect that Zoom Video Communications, Inc. will post 2.69 EPS for the current year.

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.