State of Alaska Department of Revenue Sells 21,745 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

State of Alaska Department of Revenue cut its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM) by 25.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,895 shares of the company’s stock after selling 21,745 shares during the period. State of Alaska Department of Revenue’s holdings in Zoom Video Communications were worth $4,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZM. Innealta Capital LLC acquired a new stake in Zoom Video Communications in the second quarter worth $33,000. Allworth Financial LP grew its stake in shares of Zoom Video Communications by 43.8% in the 3rd quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after buying an additional 180 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Zoom Video Communications in the 2nd quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Zoom Video Communications during the 2nd quarter worth approximately $41,000. Finally, Versant Capital Management Inc boosted its holdings in Zoom Video Communications by 1,257.7% in the second quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock worth $57,000 after acquiring an additional 893 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.

Zoom Video Communications Stock Performance

NASDAQ ZM opened at $75.50 on Wednesday. The company has a market capitalization of $23.24 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 6.26 and a beta of -0.04. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $75.96. The company has a 50-day simple moving average of $69.10 and a 200 day simple moving average of $63.13.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results 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. 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 during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $0.55 EPS. Zoom Video Communications’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, analysts forecast that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 35,722 shares of Zoom Video Communications stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $71.45, for a total value of $2,552,336.90. Following the completion of the transaction, the chief executive officer now owns 57,371 shares in the company, valued at $4,099,157.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Aparna Bawa sold 831 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $66.29, for a total transaction of $55,086.99. Following the sale, the chief operating officer now directly owns 1,978 shares in the company, valued at approximately $131,121.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric S. Yuan sold 35,722 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $71.45, for a total value of $2,552,336.90. Following the completion of the transaction, the chief executive officer now owns 57,371 shares of the company’s stock, valued at approximately $4,099,157.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 188,477 shares of company stock worth $12,842,978. 10.78% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on ZM. Wells Fargo & Company boosted their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Piper Sandler lowered their price objective on shares of Zoom Video Communications from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price objective on shares of Zoom Video Communications in a report on Thursday, October 10th. Stifel Nicolaus upped their target price on shares of Zoom Video Communications from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, October 10th. Finally, Bank of America cut their price target on Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $75.32.

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.