Susquehanna Fundamental Investments LLC Lowers Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Susquehanna Fundamental Investments LLC cut its position in Zoom Video Communications, Inc. (NASDAQ:ZM) by 61.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,063 shares of the company’s stock after selling 149,429 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Zoom Video Communications were worth $5,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sender Co & Partners Inc. bought a new stake in Zoom Video Communications during the 2nd quarter valued at approximately $754,000. Mackenzie Financial Corp grew its holdings in Zoom Video Communications by 61.3% during the 2nd quarter. Mackenzie Financial Corp now owns 35,778 shares of the company’s stock valued at $2,118,000 after buying an additional 13,595 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Zoom Video Communications by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 13,411 shares of the company’s stock valued at $794,000 after buying an additional 223 shares during the last quarter. Maverick Capital Ltd. purchased a new position in shares of Zoom Video Communications in the second quarter worth $1,517,000. Finally, MBB Public Markets I LLC bought a new position in shares of Zoom Video Communications during the second quarter worth $1,011,000. 66.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Bank of America lowered their target price on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $78.00 price objective on shares of Zoom Video Communications in a research note on Thursday, August 22nd. UBS Group upgraded shares of Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Needham & Company LLC reiterated a “hold” rating on shares of Zoom Video Communications in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company upped their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Zoom Video Communications currently has an average rating of “Hold” and a consensus target price of $74.68.

Insider Buying and Selling at Zoom Video Communications

In related news, CFO Kelly Steckelberg sold 8,901 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $68.44, for a total transaction of $609,184.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Zoom Video Communications news, CAO Shane Crehan sold 2,493 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $58.26, for a total value of $145,242.18. Following the completion of the sale, the chief accounting officer now owns 2,367 shares of the company’s stock, valued at $137,901.42. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kelly Steckelberg sold 8,901 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $68.44, for a total value of $609,184.44. The disclosure for this sale can be found here. Insiders have sold 123,908 shares of company stock worth $7,373,459 over the last quarter. Insiders own 10.78% of the company’s stock.

Zoom Video Communications Stock Performance

Shares of ZM opened at $69.55 on Friday. The company has a 50 day moving average price of $63.72 and a 200-day moving average price of $62.32. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $74.77. The stock has a market capitalization of $21.51 billion, a PE ratio of 25.95, a PEG ratio of 5.98 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business earned $0.55 earnings per share. Zoom Video Communications’s revenue was up 2.1% on a year-over-year basis. Equities research analysts forecast that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

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.