CIBC Asset Management Inc Sells 5,687 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

CIBC Asset Management Inc reduced its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating) by 12.3% in the first quarter, Holdings Channel reports. The firm owned 40,411 shares of the company’s stock after selling 5,687 shares during the quarter. CIBC Asset Management Inc’s holdings in Zoom Video Communications were worth $4,737,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. New York State Teachers Retirement System increased its stake in Zoom Video Communications by 442.9% during the 1st quarter. New York State Teachers Retirement System now owns 3,800 shares of the company’s stock valued at $445,000 after purchasing an additional 3,100 shares in the last quarter. IFM Investors Pty Ltd increased its stake in Zoom Video Communications by 16.7% during the 1st quarter. IFM Investors Pty Ltd now owns 33,876 shares of the company’s stock valued at $3,971,000 after purchasing an additional 4,847 shares in the last quarter. CNB Bank increased its stake in Zoom Video Communications by 73.9% during the 1st quarter. CNB Bank now owns 1,676 shares of the company’s stock valued at $196,000 after purchasing an additional 712 shares in the last quarter. Independent Advisor Alliance increased its stake in Zoom Video Communications by 6.6% during the 1st quarter. Independent Advisor Alliance now owns 6,865 shares of the company’s stock valued at $805,000 after purchasing an additional 428 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. increased its stake in Zoom Video Communications by 8.8% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 12,838 shares of the company’s stock valued at $2,361,000 after purchasing an additional 1,037 shares in the last quarter. 55.94% of the stock is currently owned by institutional investors.

Zoom Video Communications Price Performance

Zoom Video Communications stock opened at $113.85 on Friday. The stock has a market cap of $33.97 billion, a P/E ratio of 27.63, a PEG ratio of 4.63 and a beta of -0.61. Zoom Video Communications, Inc. has a 1 year low of $79.03 and a 1 year high of $395.00. The firm’s 50 day moving average price is $109.90 and its 200-day moving average price is $114.41.

Zoom Video Communications (NASDAQ:ZMGet Rating) last announced its quarterly earnings results on Monday, May 23rd. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.12. Zoom Video Communications had a net margin of 29.91% and a return on equity of 16.56%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business posted $0.97 earnings per share. Zoom Video Communications’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities analysts expect that Zoom Video Communications, Inc. will post 1.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ZM shares. Guggenheim reduced their price objective on shares of Zoom Video Communications to $130.00 in a research note on Wednesday, May 25th. Piper Sandler raised their price target on shares of Zoom Video Communications from $96.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, July 13th. Sanford C. Bernstein began coverage on shares of Zoom Video Communications in a report on Tuesday, July 19th. They set a “market perform” rating and a $122.00 price target on the stock. Barclays dropped their price target on shares of Zoom Video Communications from $150.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, May 19th. Finally, UBS Group dropped their price target on shares of Zoom Video Communications from $130.00 to $100.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. Fourteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $160.62.

Insider Buying and Selling

In related news, COO Aparna Bawa sold 2,404 shares of the business’s stock in a transaction on Friday, May 13th. The shares were sold at an average price of $95.04, for a total value of $228,476.16. Following the sale, the chief operating officer now owns 84,260 shares in the company, valued at $8,008,070.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Zoom Video Communications news, CFO Kelly Steckelberg sold 6,700 shares of Zoom Video Communications stock in a transaction on Friday, May 27th. The shares were sold at an average price of $108.61, for a total transaction of $727,687.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Aparna Bawa sold 2,404 shares of Zoom Video Communications stock in a transaction on Friday, May 13th. The stock was sold at an average price of $95.04, for a total transaction of $228,476.16. Following the transaction, the chief operating officer now directly owns 84,260 shares of the company’s stock, valued at $8,008,070.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,923 shares of company stock worth $5,803,973. Insiders own 11.24% of the company’s stock.

About Zoom Video Communications

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding ZM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoom Video Communications, Inc. (NASDAQ:ZMGet Rating).

Institutional Ownership by Quarter for Zoom Video Communications (NASDAQ:ZM)

Receive News & Ratings for Zoom Video Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zoom Video Communications and related companies with MarketBeat.com's FREE daily email newsletter.