Asset Management One Co. Ltd. Sells 957 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Asset Management One Co. Ltd. trimmed its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.1% in the third quarter, Holdings Channel.com reports. The fund owned 86,354 shares of the company’s stock after selling 957 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Zoom Video Communications were worth $6,022,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new stake in Zoom Video Communications during the second quarter valued at $763,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Zoom Video Communications by 15.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,714 shares of the company’s stock valued at $87,713,000 after purchasing an additional 167,618 shares in the last quarter. National Pension Service boosted its position in shares of Zoom Video Communications by 30.1% during the 3rd quarter. National Pension Service now owns 655,227 shares of the company’s stock valued at $45,696,000 after purchasing an additional 151,728 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. bought a new stake in Zoom Video Communications in the third quarter worth approximately $827,000. Finally, Pallas Capital Advisors LLC acquired a new position in Zoom Video Communications in the third quarter valued at approximately $1,245,000. 66.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZM has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Zoom Video Communications from $71.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Needham & Company LLC restated a “hold” rating on shares of Zoom Video Communications in a report on Friday, October 11th. Bank of America dropped their price objective on shares of Zoom Video Communications from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research report on Friday, July 26th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $78.00 target price on shares of Zoom Video Communications in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $75.32.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $81.46 on Friday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $81.57. The company has a 50-day simple moving average of $70.46 and a two-hundred day simple moving average of $64.07. The company has a market capitalization of $25.07 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 6.87 and a beta of -0.05.

Zoom Video Communications (NASDAQ:ZM) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 EPS for the quarter, beating 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 the consensus estimate of $1.15 billion. During the same period last year, the business posted $0.55 earnings per share. Zoom Video Communications’s revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts forecast that Zoom Video Communications, Inc. will post 2.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Kelly Steckelberg sold 5,013 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $59.70, for a total transaction of $299,276.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 5,013 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $59.70, for a total value of $299,276.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric S. Yuan sold 178,571 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $76.91, for a total value of $13,733,895.61. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 372,121 shares of company stock valued at $27,095,467. 10.78% of the stock is owned by insiders.

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.