Nisa Investment Advisors LLC Sells 2,297 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Nisa Investment Advisors LLC decreased its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 7.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,352 shares of the company’s stock after selling 2,297 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Zoom Video Communications were worth $2,117,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC bought a new stake in Zoom Video Communications in the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Zoom Video Communications in the second quarter worth about $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Zoom Video Communications during the second quarter worth approximately $41,000. Allworth Financial LP raised its position in Zoom Video Communications by 43.8% during the third quarter. Allworth Financial LP now owns 591 shares of the company’s stock valued at $41,000 after purchasing an additional 180 shares during the period. Finally, Versant Capital Management Inc raised its holdings in Zoom Video Communications by 1,257.7% during the 2nd quarter. Versant Capital Management Inc now owns 964 shares of the company’s stock valued at $57,000 after buying an additional 893 shares during the period. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Up 1.2 %

NASDAQ:ZM opened at $75.60 on Friday. The stock has a market capitalization of $23.27 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 6.44 and a beta of -0.05. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $76.03. The firm has a 50 day moving average of $69.63 and a 200 day moving average of $63.42.

Zoom Video Communications (NASDAQ:ZM) last released 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. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Zoom Video Communications had a return on equity of 10.77% and a net margin of 19.08%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. As a group, analysts expect that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Insider Transactions at Zoom Video Communications

In related news, CEO Eric S. Yuan sold 37,206 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $68.20, for a total value of $2,537,449.20. Following the transaction, the chief executive officer now owns 114,341 shares in the company, valued at approximately $7,798,056.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Eric S. Yuan sold 37,206 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $68.20, for a total value of $2,537,449.20. Following the completion of the transaction, the chief executive officer now owns 114,341 shares of the company’s stock, valued at $7,798,056.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric S. Yuan sold 2,420 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $56.12, for a total value of $135,810.40. Following the sale, the chief executive officer now directly owns 90,354 shares in the company, valued at approximately $5,070,666.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 200,977 shares of company stock worth $13,780,978. Company insiders own 10.78% of the company’s stock.

Wall Street Analyst Weigh In

ZM has been the subject of several analyst reports. Bank of America lowered their target price 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. Benchmark boosted their target price on Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company increased their target price on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research note 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 for the company in a research report on Wednesday, July 10th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $78.00 price target on shares of Zoom Video Communications in a research note 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $75.32.

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.