Blair William & Co. IL Reduces Holdings in Zoom Video Communications, Inc. (NASDAQ:ZM)

Blair William & Co. IL decreased its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 9.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 135,838 shares of the company’s stock after selling 14,319 shares during the quarter. Blair William & Co. IL’s holdings in Zoom Video Communications were worth $8,040,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. KBC Group NV raised its holdings in Zoom Video Communications by 134.3% during the 4th quarter. KBC Group NV now owns 561,558 shares of the company’s stock valued at $40,382,000 after acquiring an additional 321,921 shares during the period. Vanguard Group Inc. grew its position in shares of Zoom Video Communications by 3.2% in the fourth 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 in the last quarter. Ossiam raised its stake in shares of Zoom Video Communications by 1,917.4% during the 4th quarter. Ossiam now owns 231,474 shares of the company’s stock valued at $16,645,000 after purchasing an additional 220,000 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Zoom Video Communications by 9.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 441,168 shares of the company’s stock worth $30,171,000 after purchasing an additional 38,924 shares in the last quarter. Finally, Contrarius Investment Management Ltd boosted its stake in Zoom Video Communications by 31.2% in the 4th quarter. Contrarius Investment Management Ltd now owns 1,164,674 shares of the company’s stock worth $83,752,000 after purchasing an additional 277,257 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Insider Activity

In other news, CFO Kelly Steckelberg sold 8,901 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $66.47, for a total value of $591,649.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Kelly Steckelberg sold 8,901 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $66.47, for a total transaction of $591,649.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric S. Yuan sold 37,810 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $57.14, for a total value of $2,160,463.40. Following the completion of the sale, the chief executive officer now directly owns 113,684 shares in the company, valued at $6,495,903.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,915 shares of company stock valued at $7,661,812. Insiders own 10.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Zoom Video Communications from $72.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, June 14th. Bank of America lowered their target price on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Wells Fargo & Company boosted their price target on shares of Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Benchmark reiterated a “buy” rating and issued a $83.00 price objective on shares of Zoom Video Communications in a research report on Monday, August 5th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $78.00 price objective on shares of Zoom Video Communications in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $74.68.

Zoom Video Communications Stock Performance

ZM stock opened at $67.53 on Friday. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $74.77. The company has a market capitalization of $20.89 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 5.83 and a beta of -0.05. The company’s 50 day moving average price is $62.72 and its two-hundred day moving average price is $62.32.

Zoom Video Communications (NASDAQ:ZM) last issued its earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company earned $0.55 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, research analysts predict that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

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.